Citi downgraded Pulmonx (LUNG) to Neutral from Buy with a price target of $7.50, down from $17. The stock’s 50% drop year-to-date “seems dislocated from the underlying momentum of the business yet it is unclear to us what will get the stock price moving in the right direction,” the analyst tells investors in a research note. The firm does not see a path towards Pulmonx share price appreciation until revenue accelerates and profitability becomes more apparent.
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Read More on LUNG:
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