AtriCure initiated with a Buy at Freedom Capital

Freedom Capital initiated coverage of AtriCure (ATRC) with a Buy rating and $43 price target The firm’s bullish outlook is driven by the assumption that the Afib franchise can continue to drive low double digit growth despite pending competition, that the company has two chances to triple the AtriClip total addressable market with “reasonable chances for success,” that margin expansion should remain healthy and the view that growth prospects are not adequately reflected in the valuation, the analyst tells investors.