UPDATE: Deutsche Bank Starts ABIOMED (ABMD) at Buy, 'Size Matters'
- Wall St gains with upbeat earnings and forecasts
- Amazon (AMZN) Tops Q2 EPS by $2.90, Revenue Misses, Q3 Guidance Falls Short of Consensus
- Robinhood (HOOD) IPO Opens Flat
- Didi (DIDI) Gains on WSJ Report It Considers Going Private, Company Denies
- Facebook (FB) Tops Profit and Revenue Estimates, But Shares Lower on Warning of Significant Growth Slowdown, Analyst Still Raises PT to a New 'Street High'
Deutsche Bank analyst Pito Chickering initiates coverage on ABIOMED (NASDAQ: ABMD) with a Buy rating and a price target of $360.00.
The analyst comments "ABMD is one of the most controversial names within our Medtech coverage universe. Over the past decade, there have been multiple debates on how useful the Impella pump is versus a standard balloon pump; then the debate shifted to reimbursement concerns and CMS potentially cutting payment rates; and then recently, it has shifted back to questions around Impella’s effectiveness. Despite these concerns on Wall Street, company revenues have grown from $100m in 2011 to $847m in 2021, which we believe shows the underlying demand from physicians and clinical merits of the technology."
Shares of ABIOMED closed at $312.61 yesterday.
You May Also Be Interested In
- Yum! Brands (YUM) PT Raised to $134 at Cowen
- Tech Mahindra Ltd. (TECHM:IN) PT Raised to INR1,425 at Kotak
- Wolverine World Wide (WWW) PT Raised to $45 at Stifel
Create E-mail Alert Related CategoriesAnalyst Comments, New Coverage
Related EntitiesDeutsche Bank
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!