Merit Medical price target raised to $118 from $103 at BofA

BofA analyst Craig Bijou raised the firm’s price target on Merit Medical (MMSI) to $118 from $103 and keeps a Neutral rating on the shares after the firm hosted an investor call to discuss details on the company’s commercialization strategy, reimbursement and the market opportunity for its recently PMA-approved Wrapsody. The firm thinks the Wrapsody 2025 revenue guidance of $7M-$9M is “reasonable” as it only assumes low single-digit market share, but BofA sees some risk to numbers because early adoption is likely dependent on reimbursement given the cost sensitive market, the analyst tells investors.