BofA Securities Upgrades Shockwave Medical (SWAV) to Buy After Issuing Triple Digit Growth Guidance
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BofA Securities upgraded Shockwave Medical (NASDAQ: SWAV) from Neutral to Buy with a price target of $180.00 after the company offered 2021 revenue guidance for the first time, which came in 20% above recently raised consensus expectations. This suggests SWAV will deliver 195% revenue growth in 2021.
The analyst stated "SWAV continues to limit the number of centers it opens and the amount of utilization per account in 2021, but this new guidance implies SWAV’s coronary launch is accelerating materially. We are upgrading SWAV to Buy from Neutral as a result."
Shares of Shockwave Medical closed at $134.80 yesterday.
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