Cue Health price target lowered to $5 from $7 at TD Cowen

TD Cowen lowered the firm’s price target on Cue Health to $5 from $7 and keeps an Outperform rating on the shares. The analyst said management gave 1Q guidance of $20M- $25M below our prior 1Q estimate of $56.4M as COVID testing continues to wave. Importantly menu expansion remains on track with approvals key to accelerate topline growth and unlock the long-term value/opportunity.