TD Cowen raises price target on Butterfly Network due to strong demand for handheld ultrasound

From Investing.com: 2025-01-02 00:43:31

TD Cowen analysts raised Butterfly Network’s price target to $4.50, predicting strong revenue growth and breaking even on cash flow by 2027. The iQ3 ultrasound device’s global rollout has driven quarterly outperformance and positive company guidance revisions through 2024.

Butterfly’s strategic initiatives and partnership with URMC have boosted investor confidence. The company’s handheld ultrasound technology has shown to improve patient care and operational efficiency, attracting interest from other health systems. TD Cowen anticipates Butterfly to capitalize on the growing handheld ultrasound market.

Investors are encouraged by Butterfly Network’s progress and potential for upside. The company’s improved execution and strong demand across sales channels have solidified its position in the market. TD Cowen analysts believe Butterfly’s trajectory points towards achieving a $500 million annual revenue run rate within the next five years.



Read more at Investing.com: TD Cowen raises PT on robust demand for its handheld ultrasound By Investing.com