iRhythm price target raised to $152 from $125 at Canaccord

Canaccord raised the firm’s price target on iRhythm (IRTC) to $152 from $125 and keeps a Buy rating on the shares. Canaccord said they are bullish on the Med-Tech sector heading into 2025 as they expect investor interest to increase given smid-cap valuations continue to remain depressed while M&A has picked up and the IPO market seems to have opened. They highlight how AI is changing the space and are seeing continued interest in value-based care in the US, and believe that med-tech is well positioned to help drive the trend for improving patient outcomes while also reducing overall costs.