Accelerate Diagnostics resumed with a Buy at BTIG

BTIG resumed coverage of Accelerate Diagnostics (AXDX) with a Buy rating and $14 price target The company’s position as the leading middle-market B2B invoice and payments company should drive a long, durable growth trajectory for the next several years, the analyst tells investors in a research note. AvidXChange is currently growing below its medium-term target and there are “points for bears to pick at”, but BTIG believes that the company has built a moat around the middle-market verticals, which are still in the very early innings of converting their invoice and payments capabilities to a digital and automated solution, the firm adds.