Evercore starts with 'outperform' on LumiraDX, Wall Street's highest PT

LumiraDx

15/11/2021 11:39

** Brokerage Evercore ISI starts coverage on medical device
maker LumiraDx Ltd  LMDX.O  with "outperform" rating and PT of
$20 - highest on Wall Street 
    ** Co has developed COVID-19 diagnostics tests that are
performed near point of care, usually patient's bedside, versus
tests that need to be sent to lab for processing
    ** While these terms may sound generic, we believe co has
unique technology differentiation vs peers - Evercore ISI
    ** Brokerage also says it believes co's management team
understands cos' end markets well and can execute on its
strategy 
    ** Before Evercore, 3 of 3 brokerages rated stock "buy" or
higher; their median PT was $13
    ** Up to Friday's close, stock had risen ~8% in past month 

 (Reporting by Manas Mishra)
 ((Manas.Mishra@thomsonreuters.com;
www.twitter.com/Manasmishra24))