Nevro price target lowered to $7 from $8 at Canaccord

Canaccord lowered the firm’s price target on Nevro (NVRO) to $7 from $8 and keeps a Hold rating on the shares. The firm said The company updated its adjusted EBITDA guidance for 2024 to reflect this improved leverage but kept its revenue guidance the same which implies lower-than-expected Q4/24 revenues, as the company’s end market continues to struggle and face strong competition from closed-loop technology.