Treace Medical initiated with a Buy at Lake Street

Lake Street analyst Ben Haynor initiated coverage of Treace Medical (TMCI) with a Buy rating and $14.50 price target Foot and ankle orthopedics is a space “ignored by both investors and industry participants” despite being a $5B-plus global market growing at a 7%-8% compound annual growth rate, the analyst contends. The analyst, who thinks “the Street has fully digested (and overreacted to) the challenges Treace has faced,” sees Treace gearing up for several major portfolio additions in the first half of 2025 and adds that key CMS reimbursement “doubles tomorrow.”