Silk Road Medical: Brokerages bullish on device set to be "standard-of-care"

Silk Road Medical

29/04/2019 14:21

** Brokerages start coverage on medical device maker
 SILK.O  with bullish ratings on co's minimally invasive device
for carotid artery disease 
    ** Analysts call co's transcarotid artery revascularization
(TCAR) the next standard of care in a large underserved market
    ** JP Morgan calls TCAR a disruptive new technology with a
+$2.5 bln market opportunity; rates "overweight" with PT of $45
    ** Says TCAR provides the procedural safety of a minimally
invasive procedure and the effectiveness of open surgery
    ** Stifel says SILK has substantial runway to drive robust,
well-above-peer revenue growth before considering multiple
longer-term market and growth-enhancing opportunities; starts
coverage with "buy" rating and PT of $44
    ** BMO Capital Markets also begins coverage with
"outperform" rating and PT of $45
    ** Up to Friday's close, stock had risen ~21 pct since its
market debut on April 4

 (Reporting by Saumya Sibi Joseph in Bengaluru)
 ((Reuters Messaging:
saumya.joseph.thomsonreuters.com@reuters.net))