Penumbra initiated with an Overweight at Piper Sandler

Piper Sandler analyst Matt O’Brien initiated coverage of Penumbra with an Overweight rating and $275 price target. The company’s "innovative" Lightning and Thunderbolt technologies for blood clot removal from the peripheral and neurovasculature address an $8.2B market opportunity just in the U.S., the analyst tells investors in a research note. Piper sees "significant room" for increased penetration in the end markets, setting up Penumbra for strong growth going forward.