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Wells Fargo Upgrades Thoratec (THOR) to Outperform

November 21, 2012 6:53 AM EST Send to a Friend
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Price: $33.60 --0%

Rating Summary:
    17 Buy, 9 Hold, 0 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 0 | Down: 0 | New: 0
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Wells Fargo upgraded Thoratec (NASDAQ: THOR) from Market Perform to Outperform and raised its valuation range from $34-35 to $41-42 despite the FDA approving rival Heartware's (Nasdaq: HTWR) HVAD pump.

The firm cited: (1) we are above 2013 consensus revenue already and think THOR will continue to beat consensus in the near term; (2) the uptake of the HVAD in the U.S. may be dampened somewhat by the new stroke data from the ENDURANCE trial; and (3) the long-term risk to HTWR gaining DT approval has increased, in our view."

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

Shares of Thoratec closed at $35.00 yesterday.




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