Penumbra price target raised to $303 from $289 at RBC Capital

RBC Capital raised the firm’s price target on Penumbra to $303 from $289 and keeps an Outperform rating on the shares. The company’s top-line beat was driven by U.S. Vascular Thrombectomy benefiting notably from Lightning Flash launch, the analyst tells investors in a research note. RBC adds that it expects Penumbra to benefit from its strong product cycle as upside is yet to be factored in for Lightning Flash, Lightning Bolt, and Thunderbolt.