Posts tagged SPY Don't Lie
Scotiabank starts Novadaq at sector outperform

Scotiabank initiated coverage of Novadaq Technologies (NASDAQ:NVDQ; TSX:NDQ) with a “sector outperform” rating and a one-year price target of $18.  The stock closed at $11.43 on Tuesday.

Analyst Alan Ridgeway writes that at a multiple of eight times estimated 2017 sales, “Novadaq would trade at a premium to peers, which is justified, in our opinion, because we believe it will break even in roughly 12 months and has the potential to grow more than 30% annually through 2020.”

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