Butterfly Network price target raised to $4.50 from $3 at TD Cowen

TD Cowen raised the firm’s price target on Butterfly Network (BFLY) to $4.50 from $3 and keeps a Buy rating on the shares. The U.S. and international iQ3 launches drove quarterly outperformance and positive guidance revisions in 2024, notes the analyst, who expects advancements across the company’s four strategic pillars to continue in 2025 and beyond. The company is on track to sustain “strong double-digit” revenue growth, reach cash flow break even in 2027, and generate a $500M annual revenue run rate within five years, the analyst tells investors.