UPDATE: Oppenheimer Maintains Outperform on Thoratec, $42 PT
Oppenheimer reiterated an Outperform rating on Thoratec Corp. (NASDAQ: THOR) and a $42 price target.
Oppenheimer commented, “THOR delivered another solid quarter in 2Q and raised '12 guidance. Sales were ahead of our thinking and a touch below consensus at $118.6M (Opco/Street at $115.3M/$120.4M). EPS was ahead of us at $0.45 (Opco/Street at $0.43/$0.45). The message was consistent with what we heard in 1Q: market growth in LVADs remains robust. THOR has used its strong performance to reinvest in market initiatives for future growth.”
Thoratec closed at $34 on Wednesday.
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