Canaccord Genuity Assigns Buy On Novadaq Technologies Shares, $18 PT
In a research report issued today, Canaccord Genuity analyst Jason Mills assigned a Buy rating on Novadaq Technologies (NASDAQ:NVDQ) with a price target of $18.00.
Mills wrote, “While there currently are a few moving parts in this business –1) LifeCell transition (partnership to direct); and 2) more capital purchasing vs. leasing – we remain bullish on NVDQ’s medium/long-term growth potential. Our optimism stems largely from the growing body of clinical evidence showing both clinical and economic benefits of NVDQ’s intraoperative fluorescence imaging in a large number of open/MIS surgical applications, which portends one of the largest TAMs of any company in our med-tech universe.”
According to TipRanks.com, which measures analysts’ and bloggers’ success rate based on how their calls perform, analyst Jason Mills has a total average return of -4.0% and a 44.4% success rate. Mills has a -38.8% average return when recommending NVDQ, and is ranked #3089 out of 3353 analysts.