Wunderlich Securities Initiates Coverage of Thoratec with Hold and Pt of $35

Wunderlich Securities initiated its coverage of Thoratec (NASDAQ: THOR) with a Hold. At the same time, Wunderlich has set its price target on the company's stock to $35. In a research report published today, Wunderlich stressed that Thoratec's dominant market position might be in danger from fierce competition.

In the report, Wunderlich states, "We are initiating coverage of Thoratec Corporation (THOR) with a Hold rating and a $35 price target on the shares. THOR is the dominant player in the exciting market for left ventricular assist devices (LVADs)... Given our belief that HTWR will likely be able to successfully maneuver past the thrombus issue in coming months, we are cautious on THOR shares at current levels."

On Thursday, Thoratec closed the day at $32.14. Its shares lost some of their value in today's pre-market trading, however, falling 3.36% to $31.06. On the other hand, HeartWare International (NASDAQ: HTWR) closed the day at $68.46 on Thursday.