Silk Road Medical price target lowered to $35 from $48 at Citi

Citi analyst Joanne Wuensch lowered the firm’s price target on Silk Road Medical to $35 from $48 and keeps a Buy rating on the shares. The analyst cites the Centers for Medicare and Medicaid Services overhang and peer multiple compression for the target drop. While investors are concerned and management has defended thee reimbursement uncertainty, the proposed reimbursement impact is not known, the analyst tells investors in a research note.