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Fly News Breaks for February 28, 2018
SRDX
Feb 28, 2018 | 08:05 EDT
As reported earlier, Needham analyst Mike Matson initiated Surmodics with a Buy rating and a price target of $42. Matson says the company is currently undergoing the transition from supplier of medical coatings to medical device products, which requires heavy R&D investment right now, adding that this should expand the company's available market and accelerate revenue growth longer term. As such, the analyst contends that "investors receive an inexpensive call option" at the company's current valuation.
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