UPDATE: Benchmark Company Reiterates Speculative Buy, Raises PT on Cardiovascular Systems on Fiscal 2014 Estimates

In a report published Friday, Benchmark Company analyst James Terwilliger reiterated his Speculative Buy rating on Cardiovascular Systems

, and raised his price target from $18.00 to $24.00. In the report, Terwilliger noted, “We are publishing our fiscal 2014 revenue and EPS estimates of $125 million and ($0.78). This represents 25% revenue growth compared to our fiscal 2013 revenue estimate of $100 million. Our fiscal 2014 EPS estimate of ($0.78) compares favorably to our fiscal 2013 EPS estimate of ($1.09). The main driver of the improvement in our bottom line results is our assumption that CSII receives regulatory approval for their cardiology application with a subsequent launch in Q1:14 of calendar 2014.” Cardiovascular Systems closed on Thursday at $20.30.