Lake Street starts ‘oversold’ Silk Road Medical with a Buy

As previously reported, Lake Street analyst Frank Takkinen initiated coverage of Silk Road Medical with a Buy rating and $20 price target. The firm cites three primary reasons Silk Road shares “should be bought prior to the reawakening,” namely the view that “the reimbursement noise is overdone”; a long runway it sees for share taking opportunity; and confidence in new CEO Chas McKhann’s ability to execute a growth strategy. If Silk takes 30% share of the carotid revascularization market, it makes a $350M revenue business, adds the analyst, who sees the company having “plenty of cash to get there.”