Penumbra price target raised to $310 from $250 at Piper Sandler

Piper Sandler analyst Matt O’Brien raised the firm’s price target on Penumbra to $310 from $250 and keeps an Overweight rating on the shares. The firm anticipates some concern around the political backdrop here in the U.S., but doubts med tech will be pressured regardless of who wins the Presidency. However, volumes and pricing for 2024 should be good across the sector. Piper sees little GLP related risk for the full year and anticipates 2024 will be a good year for med tech stocks.