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Fly News Breaks for June 7, 2016
SPNC
Jun 7, 2016 | 10:46 EDT
Piper Jaffray analyst Brooks West notes that Spectranetics management told him there will be no disruption to the commercial shipment of disposable sheaths and only minimal disruption to the shipment of laser control units in the U.S. following the FDA warning letter. The letter only impacts the Colorado Springs facility, not the Stellarex or AngioSculpt manufacturing facilities, West tells investors in a research note. He recommends using any weakness in shares of Spectranetics associated with the news to add to positions. West has an Overweight rating on the stock with a $22 price target.
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