Piper Sandler analyst Jessica Tassan raised the firm’s price target on Omnicell to $66 from $55 and keeps an Overweight rating on the shares. The analyst believes consensus fiscal 2024 product revenue estimates for Omnicell look optimistic. The firm expects the company’s product revenue related bookings to be down year-over-year in fiscal 2023 and bottom in 2024. However, the Q4 earnings call will reset multi-year expectations and "may present an attractive opportunity to buy the shares," the analyst tells investors in a research note.
Published first on TheFly
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