RBC Capital analyst Glenn Novarro initiated Penumbra with an Outperform rating and a price target of $174, saying the company's "Neurovascular and Peripheral Vascular markets are underpenetrated". The analyst states that Penumbra's superior product line-up should allow it to capture more market share, forecasting revenue growth of about 20% over the next 3 years. Novarro further cites his expectations of the $700M Ischemic stroke market, where Penumber holds a 27% market share, to accelerate based on the latest recommendations by the American Heart Association endorsing endovascular devices as "reasonable first-line devices for stroke treatment".