UltraGreen.ai's Growth Outlook Clouded by New Competition
Dow Jones08-21 14:28
0628 GMT - UltraGreen.ai's growth outlook is clouded by new competition, DBS Group Research's Amanda Tan says in a research report. Zydus Lifesciences can launch its generic indocyanine green product following approval by the U.S. Food and Drug Administration, the analyst notes. Provepharm has already launched its 'Zyogreen' product in the U.K. and is targeting further geographic expansion in the U.S., the analyst notes. The entry of two rivals suggests barriers to entry into indocyanine green products which UltraGreen.ai manufactures are less prohibitive than previously assumed. DBS downgrades the stock's rating to hold from buy and lowers its target price to $0.80 from $1.95. Shares are 7.4% lower at $0.69.
At the request of the copyright holder, you need to log in to view this content
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.
Comments