UPDATE: Oppenheimer Maintains Outperform Rating, Raises PT for Thoratec
In a quarterly update released earlier today, Oppenheimer & Co. Inc. maintained its Outperform rating for Thoratec Corporation (NASDAQ: THOR) and raised its price target from $40.00 to $42.00.
Oppenheimer said its decision “is predicated on our belief that the Left Ventricular Assist Device (LVAD) market is one of the big growth opportunities in medtech. THOR will be the only company with an indication for the larger destination therapy segment of the US market for the next three years. We estimate the market will grow at a high-teens five-year CAGR from sub $400M in 2010 to $1B by 2015.”
Thoratec Corporation closed yesterday at $34.50.
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