Needham & Company Starts Vascular Solutions (VASC) at Buy
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Needham & Company initiates coverage on Vascular Solutions (NASDAQ: VASC) with a Buy rating and a price target of $58.00.
Analyst Mike Matson commented, "VASC has a demonstrated ability to find and exploit attractive niches in interventional cardiology. A number of VASC's products are used for radial access and complex PCIs, which are both seeing rapid growth. VASC is developing RePlas freeze-dried plasma which we think could be a $100M+ product, and we believe VASC should be able to continue to drive significant operating leverage. While shares may look expensive, our scenario analysis suggest that they don't fully capture the potential value of RePlas, and we initiate coverage at Buy."
Shares of Vascular Solutions closed at $47.11 yesterday.
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