JPMorgan analyst Allen Gong downgraded TransMedics (TMDX) to Neutral from Overweight with a price target of $75, down from $116. The company’s near-term outlook “remains less certain” as questions remain on the softness seen in Q3 and Q4, and the setup is further complicated by a back-end-loaded 2025 guidance “that looks more achievable than beatable,” the analyst tells investors in a research note. The firm thinks SMid-cap growth stories “need to demonstrate meaningful near-term upside to truly outperform,” and thus is downgrading TransMedics heading into 2025.
Pick the best stocks and maximize your portfolio:
- Discover top-rated stocks from highly ranked analysts with Analyst Top Stocks!
- Easily identify outperforming stocks and invest smarter with Top Smart Score Stocks
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
See today’s best-performing stocks on TipRanks >>
Read More on TMDX:
- TransMedics price target lowered to $120 from $150 at Baird
- TransMedics price target lowered to $90 from $110 at Piper Sandler
- 3 Best Stocks to Buy Now, 12/11/2024, According to Top Analysts
- TransMedics down 3% during analyst day meeting
- TransMedics sees FY25 revenue growth 20%-25% over midpoint of FY24 guide
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
