QT Imaging Holdings, Inc. (NASDAQ: QTI) has received a Buy rating and a $9 price target from D. Boral Capital in an Oct. 23, 2026, research report titled “Beyond the Mammogram.” The initiation of coverage matters because it provides independent validation of the company’s commercial trajectory and highlights the potential for its Breast Acoustic CT(TM) Scanner to address unmet needs in breast imaging. Analyst Patrick McCann cited growing adoption of the scanner, expanding international distribution, and potential applications beyond supplemental breast imaging as key drivers behind the positive outlook. For investors, the report offers a detailed financial roadmap, projecting revenue growth from approximately $39 million in 2026 to $46.7 million in 2027 and $90.5 million by 2030, supported by increased scanner shipments, international regulatory approvals, and a developing direct-sales strategy targeting hospitals and imaging providers.
The significance of the Buy rating is underscored by the scanner’s differentiated technology. The Breast Acoustic CT(TM) Scanner produces three-dimensional images without radiation, breast compression, or contrast injections, offering additional imaging capabilities particularly for women with dense breast tissue. This positions the company to potentially capture a larger share of the breast imaging market, where conventional mammography often falls short for dense breast tissue. The report also highlighted potential applications in diagnostic evaluation and oncology treatment monitoring, subject to further clinical validation, which could expand the total addressable market. D. Boral Capital also projects adjusted EBITDA reaching $21.8 million by 2030, with recurring maintenance and software revenue contributing to growth. The $9 price target is based on a discounted cash flow analysis using a 15% discount rate and 1% terminal growth rate. For a closer look at the company’s market performance, see QT Imaging (NASDAQ: QTI). The full report is available at https://ibn.fm/CpwHO, and additional information about the company can be found at www.qtimaging.com.
The announcement carries implications beyond the immediate stock reaction. It signals that QT Imaging’s technology is gaining traction among analysts and could attract further institutional interest. The report identified commercialization, manufacturing, financing, regulatory, and reimbursement risks as factors that could affect the company’s growth trajectory, reminding investors that the path to profitability is not without hurdles. The research was distributed through InvestorWire, a specialized communications platform that is part of the Dynamic Brand Portfolio at IBN. Such distribution channels help ensure that the report reaches a wide audience of investors and industry observers, amplifying its impact. For those interested in how such content is disseminated, details on editorial syndication to 5,000+ outlets and press release enhancement are available online. The initiation of coverage by D. Boral Capital is a notable vote of confidence for QT Imaging as it seeks to commercialize its breast imaging technology and scale its operations.
