Silk Road Medical (SILK) PT Raised to $28 at Lake Street Capital Markets, 'continue to believe further upside exists'

Lake Street Capital Markets analyst Frank Takkinen raised the price target on Silk Road Medical (NASDAQ: SILK) to $28.00 (from $20.00) while maintaining a Buy rating.

The analyst commented: 'The Company reassured the Street that the foundation is solid, and new reps should follow the regular onboarding trajectory. We think the right team is in place to go after the “go deep” strategy of shifting physicians to a “TCAR first” mindset. While shares have closed some of the valuation gap, we continue to believe further upside exists with shares trading at 3x ’24 EV/Rev vs. comps at ~ 6x. We reiterate our Buy rating and increase our PT to $28.'

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