As previously reported, BofA analyst Travis Steed initiated coverage of Ceribell (CBLL) with a Buy rating and $32 price target The company has a first-mover advantage with its rapid point of care EEG, powered by a differentiated AI algorithm, says the analyst, who notes that the $2B total addressable market in the U.S. is only about 3% penetrated today and that utilization in each hospital where the company’s system is deployed can keep moving higher.

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