Canaccord Genuity Maintains a 'Hold' on Volcano Corp. (VOLC); Get Constructive on Weakness
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Price: $17.99 --0%
Rating Summary:
1 Buy, 15 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 8 | Down: 5 | New: 26
Rating Summary:
1 Buy, 15 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 8 | Down: 5 | New: 26
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Canaccord Genuity maintains a 'Hold' on Volcano Corp. (NASDAQ: VOLC) price target raised $1 to $28.
Analyst, said,"VOLC missed consensus revenue estimate for the second straight quarter after >20 upside quarters since its IPO six years ago. That said, results were in line to slightly above our targets. VOLC maintained 2012 guidance, albeit FX headwinds make the low- to mid-point of revenue guidance ($392-397M) more likely, in our view. Worldwide IVUS catheter growth was solid (12% vs. 5%E), and management sees stabilization in PCI procedures in the US, with trends improving in H2. As expected, FM drove overall growth (+37% vs. 34%E). VOLC enjoys a top-notch senior management and sales team, and plenty of cash with which it could acquire complementary products. We favor buying pullbacks in the low $20s vs. chasing the stock in the high $20s."
For an analyst ratings summary and ratings history on Volcano Corp. click here. For more ratings news on Volcano Corp. click here.
Shares of Volcano Corp. closed at $28.05 yesterday.
Analyst, said,"VOLC missed consensus revenue estimate for the second straight quarter after >20 upside quarters since its IPO six years ago. That said, results were in line to slightly above our targets. VOLC maintained 2012 guidance, albeit FX headwinds make the low- to mid-point of revenue guidance ($392-397M) more likely, in our view. Worldwide IVUS catheter growth was solid (12% vs. 5%E), and management sees stabilization in PCI procedures in the US, with trends improving in H2. As expected, FM drove overall growth (+37% vs. 34%E). VOLC enjoys a top-notch senior management and sales team, and plenty of cash with which it could acquire complementary products. We favor buying pullbacks in the low $20s vs. chasing the stock in the high $20s."
For an analyst ratings summary and ratings history on Volcano Corp. click here. For more ratings news on Volcano Corp. click here.
Shares of Volcano Corp. closed at $28.05 yesterday.
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