908 Devices Inc. (MASS) PT Lowered to $45 at Stifel
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Stifel analyst Daniel Arias lowered the price target on 908 Devices Inc. (NASDAQ: MASS) to $45.00 (from $55.00) while maintaining a Buy rating.
The analyst commented, "2Q21 was strong with revenues of $8.3 mn coming above consensus and the company's first guidance raise giving us confidence in the full year. We remain impressed by the traction MX908 is gaining in the emergency response community with international efforts seemingly paying off. Rebel is gaining traction and product development seems to be on track. On this front, investors will likely have to be patient - but incremental updates such as analyte expansions should help drive adoption in the near-term. SMid cap growth names continue to be challenged in the Tools space, but as MASS continues to execute on its plan we believe investors will begin to more fully appreciate the value. Our TP goes to $45 on a 20x EV / Sales multiple and we remain Buy rated on MASS."
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