UPDATE: Canaccord Genuity Raises Volcano's PT

Loading...
Loading...
According to a research report published this morning, Canaccord Genuity has increased Volcano's
VOLC
PT from $27 to $28. In the report, Canaccord Genuity commented, "VOLC missed consensus revenue estimate for the second straight quarter after >20 upside quarters since its IPO six years ago. That said, results were in line to slightly above our targets. VOLC maintained 2012 guidance, albeit FX headwinds make the low- to mid-point of revenue guidance ($392-397M) more likely, in our view. Worldwide IVUS catheter growth was solid (12% vs. 5%E), and management sees stabilization in PCI procedures in the US, with trends improving in H2. As expected, FM drove overall growth (+37% vs. 34%E). VOLC enjoys a top-notch senior management and sales team, and plenty of cash with which it could acquire complementary products." Canaccord Genuity maintains its Hold rating on Volcano, which closed yesterday at $28.05.
Posted In: Analyst ColorPrice TargetAnalyst RatingsCanaccord Genuity
Benzinga simplifies the market for smarter investing

Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.

Join Now: Free!

Loading...