Augmedix initiated with an In Line at Evercore ISI

Evercore ISI initiated coverage of Augmedix with an In Line rating and $6 price target. The company, a leader in tech-enabled medical transcription services, stands to benefit from growing interest in large language models as hospitals look to further automate clinical workflow pain points such as documentation, the analyst tells investors in a research note. However, the firm sees multiple contraction to be just as, if not more, likely as multiple expansion, limiting room for upside in the stock.