Following day 1 of the FDA panel meeting, Craig-Hallum analyst Alexander Nowak expects the agency to issue new rules around labeling and establish a universal post-marketing study. The analyst believe it is still possible, but less likely that FDA will remove all textured implants from the market. Nowak wrapped-up day 1 of the meeting with continued confidence that the panel will be a nonevent for Sientra. The more likely impact is near-term sluggishness in the breast implant market, which Sientra alluded to on its Q4 call, he adds, arguing that any weakness in the shares will be short-term. The analyst reiterates a Buy rating and $23 price target on the shares.