SILK - Heart Devices Focused Silk Road Medical Stock Gets an Upgrade - Analyst Says New CEO's Initiatives Sets Stage For 'Back On Track' | Benzinga
Stifel upgraded Silk Road Medical Inc (NASDAQ:SILK), noting the newly appointed CEO Chas McKhann’s first public speech at a major competitor healthcare conference, directly addressing/answering most of the concerns/uncertainties leading to Stifel’s downgrade in October.
Stifel notes McKhann presented a compelling vision to revive the SILK story, addressing investor concerns early on.
The absence of a CEO and uncertainties about the commercial team contributed to two quarterly misses and a sales guidance cut in 2023, causing a significant stock drop of approximately 77% from its 52-week high.
The analyst has upgraded Silk Road Medical stock from Hold to Buy ...