Semler Scientific initiated with an Overweight at Cantor Fitzgerald

Cantor Fitzgerald initiated coverage of Semler Scientific (SMLR) with an Overweight rating and $61 price target. The firm says Semler is the second company in the U.S. to pursue a bitcoin treasury strategy. However, unlike Strategy (MSTR), whose core business is to raise capital and buy bitcoin, Semler is using excess cash on its balance sheet to acquire bitcoin, the analyst tells investors in a research note. Cantor views the stock’s risk/reward as attractive, as it believes the company is one of the least expensive bitcoin treasury names.