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UPDATE: Canaccord Genuity Starts Penumbra (PEN) at Buy

October 13, 2015 7:09 AM EDT
Get Alerts PEN Hot Sheet
Price: $227.09 +0.31%

Rating Summary:
    12 Buy, 6 Hold, 0 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 13 | Down: 10 | New: 11
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(Updated - October 13, 2015 10:24 AM EDT)

Canaccord Genuity initiated coverage on Penumbra (NYSE: PEN) with a Buy rating and a price target of $48.

Analyst Jason Mills said, "There have been few times in our nearly two decades analyzing the med-tech industry that we have seen a small-cap company at the leading edge of a dramatic paradigm change in a large, untapped market, in which recently changed guidelines for patient treatment – favoring mechanical thrombectomy – align so attractively with PEN’s product offering. To wit, we believe the zeitgeist in acute ischemic stroke (AIS) intervention is one of those unique times, and we think PEN is positioned very well to capitalize on the growth and development of the interventional stroke market globally over the next several years."

For an analyst ratings summary and ratings history on Penumbra click here. For more ratings news on Penumbra click here.

Shares of Penumbra closed at $39.14 yesterday.



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