UBS Upgrades Spectranetics From Sell To Buy, Raises Price Target 200%


27% profit every 20 days?

This is what Nic Chahine averages with his option buys. Not selling covered calls or spreads… BUYING options. Most traders don’t even have a winning percentage of 27% buying options. He has an 83% win rate. Here’s how he does it.


UBS upgraded Spectranetics Corp

ENTER TO WIN $500 IN STOCK OR CRYPTO

Enter your email and you'll also get Benzinga's ultimate morning update AND a free $30 gift card and more!

(NASDAQ: SPNC) to Buy from Sell, and lifted its price target to $30 from $10. As per the report published Wednesday, the major driver for the rating change is the reduced risk of further significant slowing of the company's core VI business and the increasing focus on Stellarex as the key driver for the company's next phase of growth.

According to the analysts, the company's Q2 results demonstrated sequential stabilization of the company's core vascular intervention businesses for peripheral and coronary intervention, clearing the way for the company's Stellarex drug-coated balloon (DCB) platform to take over as the central value driver for the stock.

"By our analysis, >50 percent of our projected 12-month target valuation is now driven by the long-term growth and value associated with Stellarex," UBS said.

At time of writing, Spectranetics was up 4.28 percent on the day at $24.08.

Full ratings data available on Benzinga Pro.

Do you have ideas for articles/interviews you'd like to see more of on Benzinga? Please email feedback@benzinga.com with your best article ideas. One person will be randomly selected to win a $20 Amazon gift card!

27% profit every 20 days?

This is what Nic Chahine averages with his option buys. Not selling covered calls or spreads… BUYING options. Most traders don’t even have a winning percentage of 27% buying options. He has an 83% win rate. Here’s how he does it.


Posted In: Analyst ColorBiotechEarningsLong IdeasNewsGuidanceUpgradesHealth CareAnalyst RatingsMoversTrading IdeasGeneralStellarexUBS