UPDATE: Credit Suisse Initiates Coverage On Trivascular Technologies On Positive Outlook

In a report published Monday, Credit Suisse analyst Bruce Nudell initiated coverage on

with an Outperform rating and $17.00 price target. In the report, Credit Suisse noted, “TRIV is a relatively new entrant in the $1.2B WW endovascular aortic repair (EVAR) market. EVAR is an alternative to open surgery in the treatment of abdominal aortic aneurysms (AAA), a fatal disease if left untreated. While the EVAR market is competitive and well penetrated (we forecast 5% market growth going forward) we believe TRIV's Ovation device is differentiated enough (as described below) to take share from larger competitors. We project TRIV reaching ~10%/13% share of the WW AA market by in sales terms by 2020/2030.” Trivascular Technologies closed on Friday at $12.92.