Needham analyst Mike Matson initiated coverage of ShockWave Medical with a Buy rating and $240 price target. ShockWave’s intravascular lithotripsy technology has democratized the treatment of calcified lesions and opened an $8.5B-plus market that is only 6% penetrated, the analyst tells investors in a research note. The firm looks for the company to see "strong" revenue growth during 2023 and expects its margins and earnings to significantly outpace its revenue growth over the next few years. The shares are attractively valued considering the company’s revenue growth and earnings power, contends Needham.
Meet Your ETF AI Analyst
- Discover how TipRanks' ETF AI Analyst can help you make smarter investment decisions
- Explore ETFs TipRanks' users love and see what insights the ETF AI Analyst reveals about the ones you follow.
Published first on TheFly
See today’s best-performing stocks on TipRanks >>
Read More on SWAV:
- ShockWave Medical initiated with a Buy at Needham
- ShockWave Medical management to meet with Piper Sandler
- ShockWave Medical announces U.S. launch of new peripheral IVL catheter
- Neovasc shareholders approve acquisition by ShockWave Medical
- ShockWave Medical sees FY23 revenue $660M-$680M, consensus $658.58M