BUZZ-Penumbra rises after Q4 results, brokerages turn bullish

Reuters
02-19
BUZZ-Penumbra rises after Q4 results, brokerages turn bullish

** Medical equipment maker Penumbra PEN.N rise 8.39% to $293.90 in premarket trading

** Revenue rises 10.8% to $315.52 million from a year earlier in fourth quarter; analysts expected $311.52 million, per data compiled by LSEG

** "We expect cash generation to scale nicely in the coming years," analysts at Morgan Stanley say

** J.P.Morgan says "with another year of low-to-mid teens sales growth on tap plus nice margin expansion Penumbra is delivering good fundamental results"

** Of the 19 brokerages covering the stock, at least 14 raised their price targets following the results

** Brokerage Canaccord Genuity raises PT to $340, a Wall Street high, from $323

** Average rating is "buy", with a median PT of $308 - LSEG

** As of last close, stock up ~14% this year; stock fell ~6% in 2024

(Reporting by Joel Jose in Bengaluru)

((joeljose@thomsonreuters.com))

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