Champions Oncology upgraded to Buy from Hold at Craig-Hallum

Craig-Hallum upgraded Champions Oncology to Buy from Hold with an unchanged price target of $6. Champions’ Q1 results showed “another positive step towards recovery,” with revenues up 12% year-over-year and both adjusted EBITDA and EPS “jumping materially sequentially,” the analyst tells investors. Management acknowledged that the near-term “may be a bit lumpy,” but positive trends with revenue conversion, lower cancellations and operation improvements are expected to be durable, the analyst added.