Wunderlich Securities Reiterates Buy, $24 Target on Abiomed

Wunderlich Securities remains Buy rated with a $24 target price on Abiomed (NASDAQ: ABMD) as it believes in a likely upside to estimates ahead of the company's Q3 report on Friday.

Wunderlich Securities comments, "We expect another upbeat quarter, with continued strong growth in Impella revenues. Fiscal Q3 is a seasonally strong quarter for ABMD, though we have conservatively assumed that revenue growth rates will be tempered by the timing of the TCT conference (November 2011 as opposed to September 2010). This has been a source of investor concern related to Q3 results. Despite this minor headwind, we look for positive Impella metrics in Q3 and continue to believe that several recent developments should have a very favorable impact on Impella utilization as we move thru 2012."

ABMD closed at $18.50 a share yesterday.