Nanosonics: Back into buying territory

About the author:

Author name:

By Scott Power

Job title:

Senior Analyst

Date posted:

01 June 2023, 7:30 AM

Sectors Covered:

Healthcare, Life Sciences

• We have been looking for an opportunity to upgrade Nanosonics (ASX:NAN) back to Add (from Hold) and given the recent share price weakness, we now have ~10% upside to our increased target price of (login to view).
• Consensus remains in a tight range for the next few years. Management has provided clear guidance for FY23 and given its history we are confident guidance will be comfortably achieved.
• The big unknown is the timing of the CORIS® commercial launch which is expected before the end of CY23.

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