UPDATE: Wunderlich Securities Initiates Coverage of Novadaq Technologies with Hold Rating, $8 PT

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In a report published Friday, Wunderlich Securities initiated coverage of Novadaq Technologies
NVDQ
with a Hold rating and an $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.
Posted In: Analyst ColorInitiationAnalyst RatingsWunderlich Securities
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