William Blair analyst Andrew Brackmann has reiterated their bullish stance on BFLY stock, giving a Buy rating today.
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Andrew Brackmann has given his Buy rating due to a combination of factors that highlight Butterfly Network’s strategic advancements and financial prospects. The recent partnership with Midjourney, Inc. underscores the potential of Butterfly’s ultrasound-on-chip technology, particularly through its Octiv subsidiary. This collaboration not only validates the company’s innovative approach but also positions it favorably in the burgeoning AI image generation market.
Moreover, the financial terms of the agreement are compelling, with a substantial one-time fee and ongoing annual payments, alongside potential milestone and revenue-sharing benefits. These financial inflows are expected to bolster Butterfly’s revenue streams without necessitating significant additional investments. The partnership reflects Butterfly’s ability to attract interest from significant market players and supports the long-term bullish outlook on the company’s stock, making it a promising investment opportunity.
According to TipRanks, Brackmann is a 4-star analyst with an average return of 24.1% and a 69.81% success rate. Brackmann covers the Healthcare sector, focusing on stocks such as Exact Sciences, Hologic, and QuidelOrtho.