MX1 - Morgans rates the stock as Add
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Micro-X has developed ultra-lightweight x-ray imaging equipment with medical and security applications. It is partnered with a major US distributor, Carestream, which is involved in the mobile medical x-ray market.
Morgans observes the market opportunities across the medical, defence and security markets are quite significant. A successful launch at the Radiology Society Network conference in November highlighted the commercial orders that are expected early in 2018 through the Carestream distribution network.
Morgans estimates an addressable market of US$240m. The broker initiates coverage with an $0.88 target and Add rating.
Target price is $0.88.Current Price is $0.40. Difference: $0.48 - (brackets indicate current price is over target). If MX1 meets the Morgans target it will return approximately 55% (excluding dividends, fees and charges - negative figures indicate an expected loss).
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