Penumbra price target raised to $248 from $244 at Baird

Baird raised the firm’s price target on Penumbra (PEN) to $248 from $244 and keeps an Outperform rating on the shares. The firm said its 3Q24 revenue/OM beat increases confidence in the achievability of the recently lowered FY24 guide and FY25 growth acceleration, which they see as key to shares moving higher.