UPDATE: BMO Capital Starts Penumbra (PEN) at Outperform
Get the Pulse of the Market with StreetInsider.com's Pulse Picks. Get your Free Trial here.
(Updated - October 17, 2016 9:05 AM EDT)
BMO Capital initiated coverage on Penumbra (NYSE: PEN) with an Outperform rating and a price target of $86. Analyst Joanne K. Wuensch highlighted double-digit growth.
"Although it's a recent IPO, the company has an established revenue base, delivering $186mm in 2015 (up 53.5% ex-fx y/y), including $141mm (up 39.2% ex-fx) of Neurovascular and $45mm (up 134.9% ex-fx) of Peripheral Vascular product sales. It is also already a global company, generating 30% of revenue from outside the U.S. Given its differentiated technology, double-digit revenue growth, and path to sustainable profitability, we believe that Penumbra is positioned to deliver results," said Wuensch.
Shares of Penumbra closed at $70.93 yesterday.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- BMO Capital Downgrades Walt Disney (DIS) to Underperform; Too Early to Own for FY18
- Stifel Starts Enable Midstream Partners (ENBL) at Hold
- Ionis Pharma (IONS): Cutting PT But Improving Fundamentals - BMO
Create E-mail Alert Related CategoriesNew Coverage
Related EntitiesBMO Capital, IPO
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!