iCAD price target raised to $5 from $2.50 at Lake Street

Lake Street analyst Frank Takkinen raised the firm’s price target on iCAD to $5 from $2.50 and keeps a Buy rating on the shares after the company announced the signing of a commercial agreement with Radiology Partners. The deal is “effectively solidifying” iCAD’s position as “the unique provider of AI solutions” to the nation’s largest radiology practice, said the analyst, who thinks business with Radiology Partners “could be larger than the aggregate Detection business today,” though adds the firm is “graciously assuming full penetration, which is admittedly a multi-year effort and a significant lift.”