RBC Capital Markets thinks Zynex stock could grow if the company taps into the patient monitoring market.
The firm initiated coverage of the electrotherapy stock with an outperform rating and a $13 per share price target in a Sunday note.
Zynex stock has slipped nearly 43% from the start of the year.
ZYXI YTD mountain Zynex stock.
Analyst Shagun Singh says while the company is already a player in the electrotherapy market in the U.S., Zynex could potentially capitalize on the patient monitoring market worth nearly $4 billion.
Persons:
Zynex, Shagun Singh, ZYXI, Singh, CNBC's Michael Bloom
Organizations:
RBC Capital Markets
Locations:
U.S