Kyle Mikson CFA, an analyst from Canaccord Genuity, has initiated a new Buy rating on Oxford Nanopore Technologies PLC (ONT).
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Kyle Mikson CFA has given his Buy rating due to a combination of factors that highlight Oxford Nanopore Technologies PLC’s strong market position and growth potential. The company has demonstrated solid execution and performance, maintaining revenue growth despite challenges that have affected its peers. This success is attributed to its commercial model that promotes broad adoption and increased utilization, leading to robust consumables revenue growth and margin expansion.
Kyle Mikson CFA also emphasizes Oxford Nanopore’s technological advancements, including significant improvements in read accuracy and throughput, which enhance the utility of its products in various markets. The company is well-positioned to capitalize on multiple growth opportunities, with substantial revenue potential in the research, clinical, industrial, and biopharma sectors. Additionally, Oxford Nanopore’s ability to secure significant contracts and attract investment from major companies further supports its growth trajectory. The analyst’s price target of 180p reflects the belief in the company’s ability to achieve its medium-term financial goals and the potential for significant upside in its stock value.
In another report released on July 3, RBC Capital also maintained a Buy rating on the stock with a p250.00 price target.
ONT’s price has also changed moderately for the past six months – from p129.200 to p144.700, which is a 12.00% increase.