UPDATE: Wunderlich Securities Initiates Coverage on Novadaq Technologies with Hold Rating, $8 PT
In a report published Friday, Wunderlich Securities initiated coverage on Novadaq Technologies (NASDAQ: NVDQ) with a Hold rating and $8.00 price target.
Wunderlich noted, “NVDQ's SPY imaging system is one of the most interesting imaging technologies that we have seen in years, which continues to gain favor for use in a growing number of indications. NVDQ has increased awareness of SPY through key strategic partnerships that should drive strong revenue growth going forward. NVDQ will also build a direct sales presence to sell PINPOINT, an endoscopic version of SPY, that could be a key source of revenue growth and gross margin expansion going forward.”
Novadaq Technologies closed yesterday at $7.25.
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