On Monday, TD Cowen demonstrated increased confidence in Ceribell (NASDAQ: CBLL), as evidenced by an adjustment in the stock's price target. The firm raised the price target to $36 from the previous $31 while maintaining a Buy rating.
The adjustment is based on a revised enterprise value to sales (EV/sales) multiple of 10.5, applied to the firm's unchanged 2026 estimate. The previous multiple stood at 10.0.
The decision to raise the price target is supported by Ceribell's recent operating performance, which the analyst believes will lead to the company outperforming the consensus estimates for the fourth quarter and the full year of 2025. The analyst cites Ceribell's strong momentum in operations as a key factor for the positive outlook.
"We also think that greater visibility on new indications beginning next year will add technology value to CBLL's current sales-based valuation," the analysts added.
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