Financial Wire

Research Alert: CFRA Maintains Hold Rating On Tempus Ai

-- CFRA, an independent research provider, has providedwith the following research alert. Analysts at CFRA have summarized their opinion as follows:

We cut our 12-month target to $59 from $60, a 5.7x EV/sales multiple to our 2027 estimate, below TEM's 10x average forward multiple since IPO in 2024. We narrow our 2026 loss per share view by $0.01 to -$0.45 and widen 2027's by $0.04 to -$0.09. TEM recently announced an agreement with Merck & Co. (MRK 117 ****) to support oncology research and drug development via TEM's datasets and AI capabilities within the Lens platform. This follows a similar announcement in March, when TEM expanded its partnership with Gilead Sciences (GILD 139 ****), an existing large biotech customer. While management commentary regarding these announcements in yesterday's Needham Healthcare Conference was encouraging, we do not see these as transformative for near-term financial performance. We still expect near 25% sales growth in 2026, along with TEM's first full-year of positive EBITDA, as testing volume growth and higher reimbursement levels underpin the longer-term path toward profitability (positive EPS expected by 2028).

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