Piper Jaffray Raising Price Target To $31 On Volcano Corp. (VOLC)

Piper Jaffray is raising its price target on shares of Volcano Corp. VOLC to $31 from $28, and is keeping its Overweight rating on shares. In a note to investors, Piper Jaffray writes, "We have updated our model to reflect the strong top-line results pre-announced by VOLC in mid-January. We are also raising our PT to $31 to reflect multiple expansion within the comp group. We re-iterate our Overweight rating." Shares of VOLC gained 32 cents yesterday to close at $27.79, a gain of 1.2%.