TD Cowen Lifts Tempus AI (TEM) Price Target on Genomic Volumes Growth

Tempus AI, Inc. (NASDAQ:TEM) in Cathie Wood's stock portfolio is one of the top 10 stocks to buy now. On August 13, an analyst at TD Cowen raised their price target of the stock to $72 from $62 while reiterating a ‘Buy’ rating.

The price target hike comes on the research firm being impressed by the company’s substantial genomic volumes and positive outlook in the Ambry business. Tempus AI continues to deliver improved performance in its genomic segment, prompting analysts to increase volume growth projections. TD Cowen also expects Tempus AI to continue gaining market share and growth in its Ambry business.

The growth forecast comes as Tempus AI delivered $314.6 million in revenue in the second quarter, significantly above the anticipated revenue of $297.8 million. The company also reported a narrow loss of $0.22 per share, compared to an expected loss of $0.25 per share.

Tempus AI, Inc. (NASDAQ:TEM) is a technology company focused on precision medicine by applying artificial intelligence to healthcare data. They have built an extensive library of multimodal data and an operating system to make it accessible and useful for clinicians and researchers. This enables them to deliver AI-enabled solutions for personalized patient care, facilitating the discovery, development, and delivery of optimal treatments.

While we acknowledge the potential of TEM as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you're looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock.

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Disclosure: None. This article is originally published at Insider Monkey.