CryoLife price target raised to $35 from $32 at Canaccord

Canaccord analyst Jason Mills raised his price target for CryoLife to $35 from $32 and maintained a Buy rating following the company’s “solid” Q1 results, telling investors that he sees a positive setup — for the firm and stock — going into an important, “transformative” period for CryLife, beginning in the second half of the year and continuing over the next few years. CryLife’s product pipeline positions the firm to deliver accelerating top-line growth, margin expansion and increasing profitability over the next 2-3 years that could potentially exceed management’s target of 7-9% top-line growth per year and 500bps of margin expansion over the next five years, Mills contends.

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