UPDATE: Benchmark 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 (NASDAQ: CSII), 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.
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