John Young CFA, an analyst from Canaccord Genuity, maintained the Buy rating on Pulmonx. The associated price target remains the same with $6.00.
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John Young CFA has given his Buy rating due to a combination of factors discussed during a recent conversation with Pulmonx’s management. The company has revised its revenue guidance for FY25, projecting growth of 7%-10%, which is seen as a timing issue rather than a structural one. Pulmonx is actively working on initiatives that are expected to translate into revenue growth, albeit taking longer than initially anticipated.
Additionally, the progress of Pulmonx’s software and strategic initiatives, such as LungTraX and Therapy Awareness Specialists, is noteworthy. These tools are enhancing patient identification and education efforts, contributing to increased procedure volumes. Furthermore, the company has implemented cost efficiencies to manage its balance sheet effectively, maintaining cash burn levels despite revised revenue expectations. These factors collectively support the Buy rating given by John Young CFA.
According to TipRanks, Young CFA is an analyst with an average return of -9.6% and a 32.35% success rate. Young CFA covers the Healthcare sector, focusing on stocks such as Merit Medical Systems, AngioDynamics, and Staar Surgical.
In another report released on July 31, Lake Street also maintained a Buy rating on the stock with a $8.00 price target.