Truist raised the firm’s price target on Penumbra (PEN) to $325 from $285 and keeps a Buy rating on the shares. The company’s top-line driven beat was driven by U.S. Thrombectomy upside, which grew about 27% and was well-ahead of consensus, while gross and operating margin upside drove an 8% EPS beat, the analyst tells investors in a research note. Penumbra is a rare, profitable, $1B double-digit revenue grower with sustained 15%-20% out-year revenue growth prospects, the firm adds.
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Read More on PEN:
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