The Globe and Mail reports in its Tuesday, Sept. 19, edition that Raymond James analyst Rahul Sarugaser has elevated his recommendation for Profound Medical to "strong buy" from "outperform" with a $20 (U.S.) share target. The Globe's David Leeder writes in the Eye On Equities column that analysts on average target the shares at $14.87 (U.S.). Mr. Sarugaser says in a note: "We map PROCEPT Biorobotics' CPT-driven Rev. trajectory, which portends a Rev. inflection for Profound Medical in 2025 once its newly-issued CPT reimb. codes come into force. With this in mind—also considering Profound stock's slide to $8 presently from $15 in June (down 40 per cent vs. Nasdaq up 3 per cent) following the AMA's positive decision to issue Profound three new CPT codes -- we view Profound's stock as materially undervalued. We expect this Rev. inflection to begin pricing-in to the stock in 1H24, so are raising our rating."