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