A leading independent analyst has put a conservative buy price target – triple the current price – on Aussie medtech CardieX Limited (ASX:CDX) saying that target does not even factor in the “enormous” underlying consumer market opportunity for the Company.
Blue Ocean Equities has initiated coverage of CardieX with a “spec buy” recommendation and target price of 16 cents, with the CDX shares at 0.052 cents per share at the time of release.
As stated in the report:
“Our 5-year DCF based target price of $0.16/s acknowledges CDX early-stage growth potential and the impending nature of the FDA clearance process for the new product suite.”
And as further noted:
“However, this target price does not nearly reflect the enormous, longer-term potential should CDX unique products succeed in becoming mainstream household names.
The equivalent of $1.60 post consolidation
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