Business Update Support Positive Thesis on Evolus (EOLS), Guidance Looks Conservative, Reiterate Overweight - Cantor Fitzgerald

Cantor Fitzgerald analyst Louise Chen reiterated an Overweight rating and $20.00 price target on Evolus (NASDAQ: EOLS), following the company's recent business update.

The analyst quotes: "Today (1/26), EOLS provided a business update that supports our positive investment thesis on the stock. The company: 1) exceeded revenue expectations for 2021, 2) highlighted plans to enter additional markets, 3) provided what we believe is conservative 2022 financial guidance, and 4) noted that it has enough capital to reach cash flow break-even, removing the need for further financing of its current operations. Therefore, we are reiterating our OW rating and 12-month $20 price target (PT) on EOLS shares post the news today (stock up over 17% vs. NBI up just over 2%)."

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

Shares of Evolus closed at $5.62 yesterday.

Written by Vlad Schepkov | [email protected]

You May Also Be Interested In

• Intuitive Machines Inc. (LUNR) PT Lowered to $32 at Cantor Fitzgerald, Reaffirms Overweight Rating
• New Street Research Upgrades Micron Technology (MU) to Buy
• Kenon Holdings (KEN) halted, news pending