© Reuters.
By Sam Boughedda
Investing.com — Lucid Diagnostics Inc (NASDAQ:) shares rose 5% on Tuesday after Cantor Fitzgerald analyst Ross Osborn reiterated an overweight rating and $12 price target.
Osborn said the company “will have a productive year with the launch in new geographic areas supported by a sales team that is expected to double in size.”
Regarding the company’s reported fourth quarter results, Osborn said Lucid’s revenue came in slightly below its and FactSet consensus expectations, but they believe the variability comes with the early-stage nature of the company.
“Testing volumes grew an impressive 50% QoQ and 200% YoY as the company’s initial commercialization efforts are tracking well,” stated the analyst.
The analyst concluded that they “encourage investors to acquire LUCD’s shares at what we believe represents an attractive valuation.”
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