On Investors’ Radar: Cantor Fitzgerald’s $70 “BUY” Recommendation for Nanox

Agencies
·3-min read

As 2021 brings promises of market increases, one of the leading financial firms recommends investors put Nanox’s ground-breaking product on their radar with a $70 target.

Also Read | Koo, The Indian Home Grown Social Media App Has Chinese Roots; Co-Founder Aprameya Assures Chinese Investors Shunwei Will Exit Fully

As the economy begins to reverse course and increases in the market continue, it is time for investors to review which start-up and leading companies to finance in 2021. While the stock market was lackluster during the 2020 coronavirus pandemic, the coming year will see unprecedented developments in start-up innovation and technologies.

On December 3rd, investors and interested businesses were able to view the 2020 Radiological Society of North America (RSNA) Virtual Annual Meeting, which held a live demonstration of new upcoming and innovative products. The online webinar featured over 11,000 international participants and attendees, in addition to real-time commentary by radiology and medical experts.

Also Read | 'Revolution in the Ecommerce Business World' – Joaquin Corrales

After the event, Cantor Fitzgerald, a major U.S. Investment Banking and Financial Services firm, repeated and further emphasized its endorsement of Nanox Imaging Ltd. (NASDAQ: NNOX), an Israel and Japanese based medical imaging company established by Ran Poliakine.

Cantor Fitzgerald, which was founded over seventy-five years ago and is considered one of the world’s prestigious financial services companies, includes an impressive target BUY recommendation of $70 per share rate in their backing of Nanox. This full-throated affirmation of the Israeli-Japanese company gives investors’ and other financial institutions confidence to support Nanox’s ground breaking product.

Nanox’s new x-ray imaging technology is a vital new development to the medical field in order to make medical imaging more affordable and accessible throughout the global market. Nanox’s innovative x-ray tube is made with ceramic coating and costs $100 per unit compared to some market x-ray tubes made of glass which can cost as much as $150,000 per unit.

While x-rays have not been fundamentally improved since its inception in 1895, over 125 years ago, Nanox is now bringing x-rays into the digital age. Their digital technology allows for an industry-wide evaluation so a strain of medical imaging can provide patients quicker and most cost-effective service.

The RSNA Virtual Annual Meeting’s webinar broadcasted the significant recorded live stream of clinical application of the Nanox.ARC system. Many in the radiological field believe that the invention will be able to address the unmet challenges in digital medical imaging. American and international media have reported widely about the event and on Nanox’s system during the live demonstration.

Currently, Nanox’s stock potentials have increased all around and are complying major media recognition for their innovative technology. Reportedly, since the event, the company’s commercial team has received hundreds of requests and interest from a plethora of sources across the industry.

Nanox is expected to start exporting shipments in the third and fourth quarters of 2021, with 15,000 planned units to be transported by 2024. According to Cantor Fitzgerald, “we remain enthusiastic toward the company's long-term growth potential and continue to expect the company to install 15,000 units by 2024 and for peak revenue to reach about $900 million in 2026.”