Baird Starts HeartFlow (HTFL) at Outperform

Baird analyst David Rescott initiates coverage on HeartFlow (NASDAQ: HTFL) with a Outperform rating and a price target of $34.00.

The analyst comments: “Backed by a database of >200M annotated CCTA images, and leveraging their proprietary AI-enabled Software-as-a-Medical-Device, (SaMD) HTFL is playing a key role in driving a paradigm shift away from traditional non-invasive testing and toward more informative, personalized coronary artery disease diagnoses. As HTFL's core FFRct technology continues to gain mindshare and the ramping Plaque Analysis rollout gains traction (clinical trial-driven), we see HTFL delivering an above peer +20% top-line CAGR ('25-'30E). Paired with a best-in-class >80% GM and out year upside optionality (reimbursement/guideline expansion opportunities), we think a premium multiple is warranted.”

For an analyst ratings summary and ratings history on HeartFlow click here. For more ratings news on HeartFlow click here.

Shares of HeartFlow closed at $25.83 yesterday.

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