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Fly News Breaks for October 2, 2018
MMSI
Oct 2, 2018 | 09:14 EDT
Needham analyst Mike Matson raised his price target on Merit Medical to $73 and kept his Buy rating, citing the company's $135M acquisition of Cianna Medical. The analyst says that the ability of Cianna's SCOUT device to identify the location of a breast tumor with an implantable radar reflector is "complementary" to Merit's biopsy business, adding that he expects Merit to improve Cianna's international distribution. Matson is positive on Merit's acquisition strategy, which he calls the "central part" of his bullish investment thesis.
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