ShockWave selloff presents buying opportunity, says Piper Sandler

Piper Sandler analyst Adam Maeder lowered the firm’s price target on ShockWave Medical to $300 from $338 and keeps an Overweight rating on the shares. The analyst thinks many investors concerns are overblown and sees "plenty of positives for the story heading into 2023." ShockWave has many growth levers at its disposal to drive "top-tier medtech growth over the next couple of years," Maeder tells investors in a research Norte. While Street expectations are high, estimates remain in a "good spot for a beat-and-raise story to materialize," says the analyst. He believes the recent share weakness presents an attractive entry point.