Wells Fargo raised the firm’s price target on Merit Medical to $103 from $85 and keeps an Equal Weight rating on the shares. The firm notes Merit Medical has presented positive 6-month data with its Wrapsody device, which should support FDA approval by year-end 2024 or early 2025. Wells estimates U.S. Wrapsody could add at least 70bps of growth to sales and 120bps to EPS by 2026 in its model.
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