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UPDATE: Canaccord Genuity Initiates Coverage on Sunshine Heart with Buy Rating, $11 PT

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Sunshine Heart Announces Company Ended 2013 with Cash and Cash Equivalents Exceeding $54M

In a report published Friday, Canaccord Genuity initiated coverage on Sunshine Heart (NASDAQ: SSH) with a Buy rating and an $11.00 price target.

Canaccord noted, “We initiate coverage of Sunshine Heart (SSH) with a BUY rating and 12-month price target of $11.00/share. SSH offers investors the opportunity to participate in a nascent growth company that is commercializing potentially disruptive technology for the treatment of Class III heart failure. The company's minimally invasive C-Pulse Assist System demonstrated solid results in its US feasibility trial, namely solid safety data, including no stroke or thrombus-related events. We recommend investors accumulate shares of SSH common ahead of important potential catalysts.”

Sunshine Heart closed on Thursday at $6.85.

Posted-In: Canaccord GenuityAnalyst Color Initiation Analyst Ratings

 

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