William Blair analyst Margaret Kaczor says the summary judgement issued yesterday is not as bad as it seems for Nevro (NVRO). While the initial headline appears negative, the ruling is similar to the preliminary judgment published earlier this month, Kaczor tells investors in a research note. Though some of the claims in the patents have been invalidated, the remaining claims, which include frequency ranges of 1.5 kHz to 100 kHz, were not invalidated, the analyst adds. She points out, though, that the judge found Boston Scientific (BSX) did not infringe on the claims as its commercially available devices could not be programmed to frequencies that would infringe and that devices that could be programmed to high frequency that are being used in clinical trials are included in safe harbor provisions. This leaves the door open in the event that Boston commercially launches a device within the frequency ranges referenced above, Kaczor writes. She believes, however, that even if Boston moves to launch a high frequency device in the United States, the company would likely have to file for FDA approval following the completion of its high-frequency trial. Despite some level of uncertainty this ruling may bring, Nevro's risk/reward is favorable, Kaczor contends. She keeps an Outperform rating on the shares.