Evercore ISI Starts Butterfly Network (BFLY) at Outperform (correction)

Evercore ISI analyst Daniel Markowitz initiates coverage on Butterfly Network (NYSE: BFLY) with a Outperform rating and a price target of $15.00.

The analyst comments "BFLY pioneered Ultrasound-on-Chip, with roots in handheld point-of-care ultrasound (POCUS) now expanding into a chip licensing platform (Embedded). Each chip gen compounds compute (Moore’s Law), widens the moat vs PZT incumbents, and unlocks new Embedded oppties. We see an accelerating growth story w / >$550M revs by ‘30 and +ve EBITDA in ‘28+. The stock is up ~4x since the Midjourney (MJ) deal, but we believe BFLY is more than a one-partner story and expect more key partners to emerge. We are initiating Outperform with a $15 PT."

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