Roth Capital Reiterates Buy On Volcano Shares, $16 PT
In a research report issued today, Roth Capital analyst Chris Lewis reiterated a Buy rating on Volcano (NASDAQ:VOLC) with a price target of $16.
Lewis wrote, “We are not surprised that Engaged is becoming louder with its requests. At this point, it appears VOLC has positioned itself for an expected proxy fight. While we continue to believe VOLC would be a nice strategic fit for a larger cardiovascular MedTech player (ABT, BSX, STJ, MDT), it is unlikely VOLC management would be interested in selling the company at current levels (stock touched 8-year lows last week), in our opinion. For reference, 2x our 2014 sales projection implies $16 per share. In the meantime, we would not be overly surprised to see some changes made to VOLC’s leadership team over the coming quarters.”
According to TipRanks.com, which measures analysts’ and bloggers’ success rate based on how their calls perform, analyst Chris Lewis has a total average return of -12.3% and a 29.0% success rate. Lewis has a -34.8% average return when recommending VOLC, and is ranked #3256 out of 3309 analysts.