KeyBanc starts Standard BioTools at buy, cites management team (NASDAQ:LAB)

KeyBanc has initiated coverage of medtech Standard BioTools (NASDAQ:LAB) with an overweight rating, citing the company’s growth potential and “pedigreed” leadership team.

The investment bank said that Standard BioTools offers investors an “attractively valued way” to invest in spatial biology, which is being increasingly used in drug discovery and diagnostics development. Keybanc said it sees drug discovery market growth being able to support long-term growth in the mid-to-upper teens.