BofA analyst Travis Steed raised the firm’s price target on ShockWave Medical to $310 from $260 and keeps a Buy rating on the shares. Steed sees another strong quarter for ShockWave, and thinks it could reach peak margins by the end of 2023, the analyst tells investors in a research note. He sees a nice set up for 2023 with U.S. coronary driving the most incremental dollar growth, and thinks ShockWave can continue to move into new disease states longer-term with non-arterial applications coming in the 2026+ timeframe.
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