Cardio Diagnostics price target raised to $2 from $1.35 at Benchmark

Benchmark raised the firm’s price target on Cardio Diagnostics to $2 from $1.35 and keeps a Speculative Buy rating on the shares. The firm is applying a multiple of three times its 2028 revenue estimate of $27M, which it says is consistent with the comp group average, but adds that “there could be upside to our estimates if the revenue ramps more quickly than we anticipate.”