BTIG Equity Research Bullish On Lombard Medical Inc

Analysts at BTIG Equity Research initiated coverage on Lombard Medical Inc (NASDAQ: EVAR) with a Buy rating and $9 price target Thursday.

Sean Lavin highlighted drivers for the firm:

The company's innovative Aorfix Stent graft has two significant opportunities. It is the only FDA label for highly-angulated aneurysm necks and analysts feel the stent may have advantages in tortuous iliacs.

The company is also in a compelling and expanding market. Analysts estimate the Endovascular aneurysm repair market is $1.5 billion and growing roughly six percent annually.

Moreover, Lavin feels that Lombard Medical is an attractive acquisition candidate given its enterprise value and potential market.

Shares of Lombard Medical recently traded at $7.77, up 7.9 percent.