Auriga downgraded Heartware International (NASDAQ: HTWR) from Buy to Hold, but raised their price target from $84 to $97. The firm cited valuation with the recent 30% run-up as the reason behind the downgrade.
The firm states, "We expect the recent presentation of upbeat ADVANCE data from HeartWare's (HTWR, Hold) BTT trial will result in faster than expected enrollment in the DT trial and could drive incremental share gains in Europe."
The firm increased 2011 revs/EPS to $89MM/($2.22) from $79MM/($2.58)
For more ratings news on Heartware International click here and for the rating history of Heartware International click here.
Shares of Heartware International closed at $93.76 yesterday, with a 52 week range of $30.90-$76.19.
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