(MENAFN- ACN NewsWire) HONG KONG, Jan 26, 2023
It is reported that Cantor Fitzgerald initiated coverage on Prenetics Global (PRE.US) with 'Overweight' rating and target price at USD7.00.
Cantor Fitzgerald holds a favorable view of the consumer and clinical testing markets, with Prenetics' focus on diagnostic and preventive testing coupled with personalized and primary care facilities to address a global market opportunity of over $200 billion. In addition, Cantor Fitzgerald believes its commercialization strategy in rolling out tests both via B2C and B2B in the future, depending on which avenue will result in the broadest adoption with the lowest amount of operating expenses, is unique and sound. Prenetics looks to add new tests to its platform through acquisitions and partnerships, resulting in faster time to market and a comprehensive healthcare ecosystem in a not-so-distant future.
Meanwhile, with Prenetics' ecosystem coming together and being able to uniquely demonstrate profitability given its lower operating expenses and R&D expenses relative to peers, Cantor Fitzgerald thinks Prenetics' shares are also attractively valued.
In the near term, Prenetics will focus on Hong Kong, Southeast Asia and the UK, where the company has strong leadership teams in place and benefits from little to no competition, most notably in Asia.
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