Cantor reiterates $70 target on Nano-X after 'unfounded' short report - InvestingChannel

Cantor reiterates $70 target on Nano-X after ‘unfounded’ short report

Nano-X Imaging shares are under pressure today after a short report from Citron Research questioned the legitimacy of the company’s opportunity and growth outlook, Cantor Fitzgerald analyst Steven Halper tells investors in a research note. On concerns over published data, the analyst points out that Nano-X’s prototype device has been in place at Hadassah hospital in Jerusalem, a “large and well-known” hospital in Israel. Data used for the FDA was gathered at this site, Halper notes. With respect to customer orders, the analyst says he’s “very comfortable” with the clients that were disclosed in the company’s filings. He continues to expect Nano-X Imaging to install 15,000 digital X-ray units by 2024 and for peak revenue to reach $900M by 2026. Halper reiterates an Overweight rating on the shares with a $70 price target. Nano-X Imaging are down 21%, or $10.16, to $39.05 in afternoon trading.