Penumbra price target lowered to $280 from $290 at Truist

Truist lowered the firm’s price target on Penumbra to $280 from $290 but keeps a Buy rating on the shares. The firm maintains its view of the company as a rare, profitable, over-$1B, high-teens revenue grower with sustained over-20% thrombectomy revenue growth prospects, the analyst tells investors in a research note. Truist adds however that its reduced price target reflects some multiple compression for the SMID peer group.