Google Health partnership ‘significant positive’ for iCAD, says Lake Street

Lake Street analyst Frank Takkinen called iCAD‘s (ICAD) recently announced partnership agreement with Google Health (GOOGL) a "significant positive" given his view that it will "further establish iCAD as the market leader in breast AI." iCAD anticipates leveraging Google’s cloud capabilities to accelerate its cloud-hosted product to market by the second half of 2023, while the companies are working together to develop a "best-of-both" AI-based breast platform expected to be on the market in 2024, said Takkinen after having met with iCAD’s CEO Stacey Stevens at the Radiological Society of North America conference. He affirms a Buy rating and $5 price target on iCAD shares.