JPMorgan analyst Robbie Marcus upgraded Penumbra (PEN) to Overweight from Neutral with a price target of $370, up from $275. The firm says the ending headwinds and upcoming “major catalysts” have it bullish on the shares heading into 2026. JPMorgan sees a “strong likelihood” of positive estimate revisions to both Penumbra’s sales and earnings in 2026. The company is e positioned to put up material upside to current Street numbers with the anniversary of China headwinds and a number of positive catalysts between Thunderbolt approval and multiple data readouts, the analyst tells investors in a research note.
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