Nadine McGrath
On June 2, 2023
ScoPo’s Powerplays: ASX health stocks… could be worse
Morgans upgrades heavily shorted Nanosonics
Morgans has upgraded infection prevention company Nanosonics (ASX:NAN) to an Add rating from a Hold with a 12-month target price of $5.49, up from $5.24.
“We have been looking for an opportunity to upgrade NAN back to Add and given the recent share price weakness, we now have ~10% upside to our increased target price of $5.49,” Power said.
The heavily shorted NAN share price has fallen more than 5% in the past month.
“Management has provided clear guidance for FY23 and given its history we are confident guidance will be comfortably achieved.”
NAN’s trademarked CORIS device is attempting to solve a complex disinfection problem in removing the biofilm from the flexible endoscope.
He said the big unknown is the timing of the CORIS commercial launch which is expected before the end of CY23.
Nadine McGrath On June 2, 2023 ScoPo’s Powerplays: ASX health...
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Last
$2.84 |
Change
0.010(0.35%) |
Mkt cap ! $860.4M | |||
| Open | High | Low | Value | Volume |
| $2.84 | $2.88 | $2.82 | $1.567M | 550.9K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 2810 | $2.83 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $2.84 | 26777 | 3 |
View Market Depth
| Last trade - 16.10pm 02/05/2024 (20 minute delay) ? |
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Last
$2.84 |
Change
0.010 ( 0.31 %) |
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| Open | High | Low | Volume | ||
| $2.85 | $2.87 | $2.82 | 155224 | ||
| Last updated 15.59pm 02/05/2024 ? | |||||
| NAN (ASX) Chart |