UPDATE: Credit Suisse Initiates Coverage on Endologix with Outperform Rating, $19 PT on Positive Outlook for Nellix

In a report published Monday, Credit Suisse analyst Matthew Keeler initiated coverage on Endologix ELGX with an Outperform rating and $19.00 price target. In the report, Credit Suisse noted, “We believe ELGX's Nellix device is differentiated (as described below) & will likely take meaningful share in the endovascular aneurysm repair (EVAR) market. We project ELGX reaching ~29% revenue share of the WW aortic EVAR market by 2020, up from 11% currently, driving a 21% sales CAGR over that time.” Endologix closed on Friday at $14.85.