Citi initiates Pulmonx with a buy rating, sees 31% upside

• Citi analyst Joanne Wuensch has initiated shares of Pulmonx Corp. (NASDAQ:LUNG) with a buy rating and a $60 price target.
• Given yesterday's closing price, that implies upside of ~31%.
• She says the company has revolutionized the treatment of emphysema through its Zephyr Valve System.
• The device has been used in more than 20,000 patients.
• "Simply put, it is designed to provide the benefits of surgery with broader eligibility, a minimally invasive approach, and is fully removable," she writes.
• Pulmonx shares are up 4.6% to $47.82.