Credit Suisse Outperform On Thoratec

Credit Suisse is out with a research report on Thoratec Corp THOR and it has an Outperform rating and a $43 price target on shares. In a note to clients, Credit Suisse writes, "We are initiating coverage on Thoratec Corporation with an Outperform rating and PT of $43. THOR is the leading global manufacturer of left ventricular assist devices (LVADs) to treat heart failure. Its leading product, the HeartMate II, is the only pump to be approved for both the Bridge to Transplant (BTT) and Destination Therapy (DT) indications in the United States. We believe the worldwide LVAD market will experience steady growth at a CAGR of 14% from 2010-2020. We believe THOR will maintain significant (50%) long-term market share with potential upside if competitor HTWR fails to alleviate concerns regarding thrombus rates with its HVAD device. Over the near term, THOR stands to benefit from any delay or disruption in HTWR's trial enrollment in the United States, while it accumulates evidence that it can indeed suitably manage the thrombus rate with the HVAD." Shares of THOR are up 82 cents to $35.84, a gain of 2.34%.