Penumbra upgraded at Needham on revenue growth acceleration

[Wall Street in New York City]
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* Needham has upgraded Penumbra (NYSE:PEN [https://seekingalpha.com/symbol/PEN]) to buy from hold as it sees a boost in revenue growth in 2026.
* The firm set a price target of $326 (~31% upside based on Oct. 7 close).
* Analyst Mike Matson highlighted several catalysts for the upcoming revenue acceleration: the upcoming launch of the Thunderbolt, a computer-assisted vacuum thrombectomy (CAVT) system for stroke; results from the STORM-PE trial, which is examining anticoagulation alone vs. anticoagulation plus Indigo Mechanical Aspiration, a thrombectomy device, for high-risk pulmonary embolism; China headwinds easing; and the launch of the Ruby XL embolization platform.
* "Thunderbolt should nearly double PEN's revenue per stroke procedure and we expect it to drive much stronger neuro thrombectomy growth and further gross margin improvement," Matson wrote. "We also believe that PEN is poised to see its operating margin improvement accelerate potentially driving meaningful upside to consensus 2026E EPS estimates."

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* Penumbra outlines 13% to 15% revenue growth target for 2025 as thrombectomy adoption accelerates [https://seekingalpha.com/news/4473965-penumbra-outlines-13-percent-to-15-percent-revenue-growth-target-for-2025-as-thrombectomy]