Piper Sandler starts coverage on Penumbra with 'overweight' rating

Penumbra

30/01/2023 12:09

** Piper Sandler initiates coverage on Penumbra Inc  PEN.N 
with an "overweight" rating and PT of $275 
    ** Brokerage optimistic about co's expected launch of blood
clot removal products
    ** Says the products have a market opportunity of $8.2 bln
    ** Anticipates PEN to gain market share; says co's new
products have ability to generate strong revenue in 2023 and
beyond
    ** 12 brokerages rate the stock "buy" or higher; their
median PT is $254- Refinitiv data
    ** Shares of PEN fell 22.5% in 2022
 (Reporting by Shristi Achar A in Bengaluru)
 ((Shristi.AcharA@thomsonreuters.com;))