RBC Capital analyst Ashish Sabadra has initiated coverage on Nasdaq Inc (NDAQ) with an ‘Outperform’ rating and a price target of $88, citing strong growth prospects and a recurring revenue stream following the acquisition of Adenza. The analyst expects Nasdaq to deliver mid-term revenue growth of 10%-14% in Financial Technology, driven by secular trends like cloud computing and digital transformation.
RBC Capital has initiated coverage on Bicycle Therapeutics PLC (BCYC), highlighting the potential of its lead program, Zelenectide pevedotin (zele), in the oncology market. The analyst believes that Zele’s improved safety profile compared to Padcev, a competing drug for metastatic urothelial cancer (mUC), could lead to greater antitumor durability and a substantial market share. Furthermore, the analyst sees potential for Zele in other solid tumors, such as triple-negative breast cancer and non-small cell lung cancer, with an estimated peak global sales of $2 billion in 2033.
RBC Capital analyst Rishi Jaluria reiterated an Underperform rating for Box Inc. (BOX) despite the company exceeding second-quarter revenue and earnings expectations. While acknowledging some positive aspects, Jaluria remains cautious due to concerns about competition, commodification, and international slowdown.
