Needham upgraded Penumbra (PEN) to Buy from Hold with a $326 price target The firm expects the company’s growth in 2026 to meaningfully accelerate due to the upcoming Thunderbolt and Ruby XL launches, STORM-PE trial results, and easing of headwinds in China. Thunderbolt should nearly double Penumbra’s revenue per stroke procedure while driving stronger neuro thrombectomy growth and further gross margin improvement, the analyst tells investors in a research note. Needham also believes Penumbra is positioned for meaningful upside to consensus 2026 earnings estimates.
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