Rapid Micro Biosystems initiated with a Buy at Lake Street

Lake Street initiated coverage of Rapid Micro Biosystems (RPID) with a Buy rating and $8 price target Rapid is “emerging as the category leader” in microbial quality control automation with its Growth Direct platform, says the analyst, who believes the market has yet to fully appreciate the already existing scale and growing adoption of Growth Direct. The firm sees further upside as recurring revenue continues to scale given “the stickiness of the platform,” the analyst added.