HeartBeam initiated with a Buy at Stifel

Stifel initiated coverage of HeartBeam (BEAT) with a Buy rating and $4 price target HeartBeam is a medical technology company that has developed the first and only FDA-cleared, cable-free device capable of synthesizing a clinical-grade 12-lead electrocardiogram from 3D signal capture, the analyst tells investors in a research note. The firm expects “rapid deployment” of HeartBeam Systems across concierge and preventive cardiology practices. Riley expects positive stock momentum to build with the company’s regulatory updates from expansion over the coming years.