UPDATE: Benchmark Initiates Coverage on Vascular Solutions

According to a research report published this morning, Benchmark has initiated Vascular Solutions

with a Buy rating and $15 PT. In the report, Benchmark said, "We are initiating coverage of Vascular Solutions (VASC) with a Buy rating and a twelve month price target of $15.00. Our $15.00 price target represents approximately 23 times our 2013 EPS estimate of $0.65. Vascular Solutions is a medical device company focused on coronary and peripheral vascular procedures. VASC's product lines fall into three categories that include catheter products, hemostat products and vein products." Vascular Solutions closed yesterday at $11.80.