Nanosonics initiated with a Sector Perform at RBC Capital

RBC Capital initiated coverage of Nanosonics with a Sector Perform rating and A$5.25 price target. Nanosonics trophon device offers a unique automated solution for high level disinfection of ultrasound probes, which has enabled it to become the market leader with a 73% share, notes the analyst, who sees “considerable opportunity for further growth.” While the firm expects earnings to benefit from some operating leverage over the next few years, it believes the stock is fairly valued at current levels.