Northland analyst Suraj Kalia downgraded Intersect ENT to Underperform from Market Perform after the company cut its FY19 sales guidance and announced an “abrupt CEO change,” which he tells investors “telegraphs implicit weakness in the outlook.” The analyst, who said he has always had concerns that expectations on new product launches were overtly enthusiastic, cut his price target on Intersect ENT shares to $20 from $28.
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