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Stifel ups Sientra price target to $28

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Stifel has raised its price target for Sientra (NASDAQ:SIEN) to $28 from $23, saying its diligence suggests continued U.S. market share gains are on the horizon for Sientra. The stock closed at $23.84 on Monday.

price target“Importantly, these share gains are driven in several ways, including current users assigning Sientra a greater percent of the practice’s implants in the coming years, new users planning to adopt Sientra’s implant for the first time and positive feedback on Sientra’s textured round and shaped implants, which represent the fastest growing (and highest ASP) segment of the market,” writes analyst Jonathan Block.

“Specifically, 35% of respondents said Sientra had the best textured technology versus the company’s low double digit 2014 market share cited in our survey,” he added.

Mr. Block said his checks suggest that Sientra is well positioned to continue notable market share gains, and “if we extrapolate our augmentation findings to our model, we see approximately 10% upside to our 2018 sales estimate of $95.8-million.”


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