Piper continues to recommend Abiomed shares after ‘strong’ Q2

Piper Jaffray analyst Matt O’Brien reiterates an Overweight rating on Abiomed with a $480 price target following this morning’s “strong” Q2 results. Although the back-half guidance implies a revenue growth deceleration, management is “sticking with its traditional conservative playbook here,” O’Brien tells investors in a post-earnings research note. With the number of domestic Impella sites ticking higher this quarter, coupled with better than expected Japanese performance, Abiomed is up to continue delivering the “best top-line growth in large-cap med tech,” says the analyst. As such, he continues to recommend investors purchase the stock.
https://thefly.com/landingPageNews.php?id=2815715