Canaccord raised the firm’s price target on Thorne HealthTech to $7 from $6 and keeps a Buy rating on the shares. The firm said they had a top and bottom line beat and were able to see improved gross margins and strong operating leverage in the quarter due to sales coming ahead of expectations along with efficient marketing spend. Canaccord believes the company is positioned well for the future as demand still outweighs production capabilities, leading management to invest in their manufacturing capabilities to be able to meet projected demand through 2030.
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