BALTIMORE, MD / ACCESSWIRE / June 28, 2021 / Goldman Small Cap Research, a stock market research firm specializing in the small cap and microcap sectors, announced today that it has published a new research update on Mitesco, Inc. (OTCQB:MITI). The Company is building out a network of nurse-practitioner-centric clinics around the country. To view the new research update report, our original initiation of coverage report, along with disclosures and disclaimers, or to download the update in its entirety, please visit https://bit.ly/3A5moOB.
Mitesco, Inc. is a holding company with subsidiaries and assets in healthcare services and technology in the US and abroad. Its flagship subsidiary, The Good Clinic™ is building out a network of clinics using the nurse practitioner operating as its primary healthcare provider and incorporating telehealth technology, along with wellness and prevention offerings.
In the Opportunity Research update, analyst Rob Goldman discusses how the Company is ahead of schedule and that 2022 projections may be raised later this year.
Low Valuation Compared to Peer Group
Goldman commented, "We reviewed recent news with management and came away impressed. The bottom line? We liked MITI at $0.42, we love it at $0.21 and reiterate our price target. Clearly MITI offers unusual upside potential. MITI trades at a paltry 2.4x our current 2022E revenue forecast, versus the 8.4x average price/sales multiple afforded its peers-despite the fact that our 2022 forecasts may prove to be too low."
MITI is Exceeding Expectations
"The Company will have 7-8 The Good Clinic™ locations open by year-end, 2-3 more than we originally forecasted. With more locations online at the start of next year, we may be prompted to raise our 2022 $17.9M revenue estimates and our current price target," noted Goldman. "While our original $2.25M revenue estimate for 2021 will be reduced to sub-$1M partly due to administrative reasons associated with the early launch, MITI has already contracted with key providers such as Medicare, Medica, Blue Cross, with a number of others pending. These contracts could be key future signup drivers. Separately, high margin vitamin and natural supplement products appear to have generated meaningful traction which could offer a consistent profit margin boost, going forward."
Future Up-List and Largely Non-Dilutive Funding on Track
"MITI's recent hires have considerable industry and capital markets experience which should only provide confidence that the Company is on track to manage growth and potentially outperform even the loftiest of expectations. We believe management will soon be filing paperwork necessary to up-list its shares to NASDAQ or the NYSE in 2H21 and concurrently raise equity/debt funding in late 2021," concluded Goldman.
About Goldman Small Cap Research: Founded in 2009 by former Piper Jaffray analyst and mutual fund manager Rob Goldman, Goldman Small Cap Research produces sponsored and non-sponsored small cap and microcap stock research reports, articles, stock market blogs, and popular investment newsletters.
Goldman Small Cap Research is not in any way affiliated with Goldman Sachs & Co.
This press release contains excerpts of our most recently published company report on Mitesco, Inc. The information used and statements of fact made have been obtained from sources considered reliable but we neither guarantee nor represent the completeness or accuracy. Goldman Small Cap Research relied solely upon information derived from Mitesco, Inc. ("the Company"). The information includes authorized press releases or legal disclosures made in their filings with the U.S. Securities and Exchange Commission http://www.sec.gov.
Separate from the factual content of our report about the Company, we may from time to time include our own opinions about the Company, its business, markets, and opportunities. Any opinions we may offer about the Company are solely our own, and are made in reliance upon our rights under the First Amendment to the U.S. Constitution, and are provided solely for the general opinionated discussion of our readers. Our opinions should not be considered to be complete, precise, accurate, or current investment advice. Statements herein may contain forward-looking statements and are subject to significant risks and uncertainties affecting results.
A Goldman Small Cap Research report, update, newsletter, article, trading alert, corporate profile, sector or industry snapshot, podcast interview, or press release is not intended as an offering, recommendation, or a solicitation of an offer to buy or sell the securities mentioned or discussed and is to be used for informational purposes only. Please read all associated full disclosures, disclaimers, and analyst background on our website before investing. Neither Goldman Small Cap Research nor its parent is a registered investment adviser or broker-dealer with FINRA or any other regulatory agency. A Speculative Buy rating for our covered companies is defined as a company that we believe exhibits the potential to generate outsized returns despite inherent, above-average business, market, or financial risk. To download this research update or any of our research, view our disclosures and disclaimers, or for more information, visit www.goldmanresearch.com. Goldman Small Cap Research was compensated $4000 by the Company for the production of the February 2021 coverage initiation report. GSCR was not compensated for the production of the research update.
Goldman Small Cap Research
Rob Goldman, Analyst
410-609-7100
[email protected]
SOURCE: Goldman Small Cap Research