UPDATE: Stifel Reiterates On TriVascular Technologies Following 3Q14 Sales Results

In a report published Tuesday, Stifel analyst Rick Wise reiterated a Buy rating on

, and raised the price target from $17.00 to $19.00. In the report, Stifel noted, “At $7.9M, TRIV 3Q14 sales rose 43% y/y and came in roughly in-line with consensus, but above our more-cautious, recently-lowered $7.4M projection. On September 18th, we took our numbers down in an attempt to reflect the Ovation Prime limited recall. Clearly the impact was less than feared. Excluding the recall impact, 3Q14 sales growth likely approximated closer to 50% (vs. the 43% reported).” TriVascular Technologies closed on Monday at $15.01.