Heartflow initiated with an Equal Weight at Morgan Stanley

Morgan Stanley initiated coverage of Heartflow (HTFL) with an Equal Weight rating and $35 price target Heartflow is “a unique MedTech asset” as a pure-play AI and software company, but performance has been strong out of the gate with the stock up 60%-plus since the IPO on August 8, the analyst noted. While investor enthusiasm for the stock is “easy to understand,” the firm believes the current valuation captures optimism around the company’s opportunities.