CUTR - Cutera stock jumps as Stifel boosts price target after AviClear gets FDA clearance

Cutera (CUTR +9.7%) shares jump after Stifel analyst Jonathan Block raised the firm's price target to $70 from $60 and maintains a Buy rating on the shares as he believes that the company will pursue an upfront capital-light model for AviClear in exchange for an annual licensing fee, service contract and bigger economics of the high-margin consumable stream. As per this expectation, he sees more rapid AviClear adoption in 2022 and 2023, and argues that while a capital-light model may forgo a big one-time upfront average selling price, this will be replaced by durable, recurring, and high-margin revenue streams. The raised price target indicates a potential upside of ~17% from the stock's current price. Last week, the company announced that the U.S. Food and Drug Administration granted 510((k)) clearance to AviClear to treat mild, moderate and severe Acne. Since the start of 2022, shares jumped more than 50% and over the period

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Cutera stock jumps as Stifel boosts price target after AviClear gets FDA clearance