The Globe and Mail reports in its Wednesday edition that Raymond James analyst Rahul Sarugaser says Profound Medical "represents an extremely attractive investment proposition." The Globe's David Leeder writes that Mr. Sarugaser sees Profound's latest equity financing providing enough to fully commercialize its TULSA-PRO system for prostate treatment. Mr. Sarugaser raised his rating to "strong buy" from "outperform" and share target to $45 from $35. Analysts on average target the shares at $28.97. Mr. Saraguser says in a note: "Our projections [are] for PRN installing 10, 22, and 38 TULSA-PRO units in 2020, 2021, and 2022, respectively. These units, we estimate, will have average utilization rates increasing from 74, to 90, to 106 annual patients per device during those same years, driving revenues of $11.1-million, $27.2-million, and $63.4-million, respectively. Given that we anticipate PRN generating $5.4-million in fiscal 2019, we recognize that $11.1 mln in 2020 appears relatively modest. These light 2020 revenues we see as a function of PRN substituting short-term capital equipment revenue with massive, long-term recurring revenue. We view this as a deft strategy enacted by PRN's veteran management."