Analyst Bullish On Penumbra: Says Its Is Poised For Strong Revenue Growth With Multiple Upside Catalysts
Portfolio Pulse from Vandana Singh
Baird has initiated coverage on Penumbra Inc (NYSE:PEN) with an Outperform rating and a price target of $375. The analyst notes that Penumbra, a pioneer in aspiration mechanical thrombectomy (MT), is set for robust revenue growth over the next 2-3 years, supported by various factors. The company's proprietary FLASH and BOLT MT systems, launched in 2023, are expected to drive growth. Penumbra has identified multiple large and underpenetrated addressable market opportunities in vascular and neuro segments. The company's ongoing clinical trials hold the potential to accelerate MT adoption and expand the addressable markets.
July 19, 2023 | 5:59 pm
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Baird has initiated coverage on Penumbra Inc with an Outperform rating and a price target of $375. The company's proprietary systems and ongoing clinical trials are expected to drive robust revenue growth over the next 2-3 years.
The bullish rating from Baird, along with the high price target, indicates strong confidence in Penumbra's growth potential. The company's proprietary systems and ongoing clinical trials are expected to drive robust revenue growth over the next 2-3 years, which could positively impact the stock price.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100