This electrotherapy stock could benefit if the company moves into the patient monitoring market, the firm said.
RBC Capital Markets thinks Zynex stock could grow if the company taps into the patient monitoring market. The firm initiated coverage of the electrotherapy stock with an outperform rating and a $13 per share price target in a Sunday note. RBC's forecast implies more than 63% upside from Friday's $7.97 close. Zynex stock has slipped nearly 43% from the start of the year.
mountain Zynex stock. Analyst Shagun Singh says while the company is already a player in the electrotherapy market in the U.S., the Zynex could potentially capitalize on the patient monitoring worth nearly $4 billion. "ZYXI has a favorable financial profile with 20-25% revenue growth, near-80% , and improving profitability to mid-to-upper 20s over time," Singh said. "We believe ZYXI management's execution and evidence-building will be key for the future success of the company.
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