Butterfly Network price target lowered to $4 from $5 at Lake Street

Lake Street lowered the firm’s price target on Butterfly Network (BFLY) to $4 from $5 and keeps a Buy rating on the shares. While the firm acknowledges one could read the company’s mixed Q2 guidance relative to expectations and commentary on funding uncertainty as negative, it views these items as “nearly imperceptible bumps on the runway.” It argues further that “those focusing on them are missing perhaps a half dozen developments suggesting Butterfly is well fueled for an impressive ascent.”