Published Dec 21, 2023 01:40PM ET© Reuters No shortage of tailwinds for Glaukos Corporation (GKOS) - JPMorganGKOS -3.29% Add to/Remove from WatchlistJPMorgan analysts raised Glaukos Corporation (NYSE: ) to Overweight from Neutral in a note Thursday, lifting the stock price target to $91 from $66 per share. The analysts told investors that there is no shortage of tailwinds for the company, highlighting iDose and LCDs. They said that in 2023, anticipation for iDose and a string of positive reimbursement wins helped GKOS shares stay incredibly resilient against GLP-1 fears that negatively impacted the rest of the sector. "When combined with a string of better-than-expected quarters off of low expectations, shares outperformed significantly against the broader SMid-cap group, with GKOS up +72% from 1Q3Q even as other SMids were down 3%," they wrote. The investment bank sees the company's bullish outlook driving a compelling beat-and-raise story in 2024 that they believe should support estimate revisions in 2025 and further ahead as well.

Source: Wall Street Journal December 22, 2023 12:54 UTC