Biosensors

Biosensors: CS maintains O/p and raises TP to $1.96. Note that besides announcing last week the CE Mark approval for its BioFreedom, Biosensors has developed a pipeline to sustain its future growth. Biosensors is enrolling patients at high risk of bleeding for LEADERS FREE, a clinical trial between BioFreedom and baremetal stent (BMS). Updates from this trial could function as a catalyst. More near-term catalysts will be any imminent acquisition after the interim note issue. New TP is based on 20x 2/14E P/E, given an imminent acquisition deal and BioFreedom’s full commercial launch in 2014.