Abiomed Q3 results beat, guidance ‘compelling,’ says Piper Jaffray

Piper Jaffray analyst Matt O’Brien reiterated an Overweight rating on Abiomed shares, with a $480 price target, after the company’s Q3 earnings results beat targets on the top- and bottom-lines, and reiterated top-line FY19 guidance which the firm believes is conservative. Additionally, O’Brien sees Abiomed’s newly issued FY19 margin guidance as “compelling.” The analyst concluded that “there are so many things to like about the story” — including modest penetration rates, new indications, new geographies, new products, and operating leverage — and called it a name he would own.
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