Nevro price target raised to $6 from $5 at Baird

Baird raised the firm’s price target on Nevro (NVRO) to $6 from $5 and keeps a Neutral rating on the shares. The firm said it remains a show-me story as the business transformation remains underway. While 3Q24 revenue/EBITDA was above CNS, revenues are still below FY23 levels, and there has yet to be signs the company is on track to stabilize/reaccelerate growth.