Lake Street Price Target $15 US Dollars:Viemed Healthcare, Inc. BUY (VMD – $8.81 – Intraday) Price Target: $15 VMD Breathing A Bit Easier As COVID-19 Disruption Begins To Abate. Affirm Buy Rating And $15 PT. While COVID-19 disruption is likely to ebb and flow for quite some time, we sense overall conditions in Viemed’s core non-invasive ventilator business largely returned to something like “normal” during Q3. Yes there was still $8.6M of nonrecurring COVID-19 related revenue this quarter, and management guided to $5M - $6M more in Q4. The key is as things return to normal, management is again largely focused on driving 25%+ organic, self-funded revenue growth. The good news is many of the Company’s related initiatives, most notably the growth of VMD’s home oxygen business, are gaining traction as well. In addition, while the Company continues to invest in core technology to improve patient care and operations (billing, collections, onboarding), management continues to see opportunities to invest further in remote patient monitoring. Progress with the high potential VA opportunity continues to move slowly, but with so many other attractive growth initiatives, this can percolate alongside of the other things. Overall, we remain confident in this team and their expanding opportunity to provide vital services to vulnerable patients in their home. We currently estimate the core non-invasive vent market is ~5.0% penetrated.