Roth MKM resumes coverage of LeMaitre with buy rating

Roth MKM has resumed coverage of LeMaitre Vascular (NASDAQ:LMAT) with a buy rating, citing the company's dominant market position.

Roth said LeMaitre was “unusually well positioned as the dominant player” in the roughly $800M vascular surgery market, holding either the highest or second-highest market share for most of its products.

“This provides LMAT with significant pricing power, operating leverage and the infrastructure to consolidate smaller undercapitalized products/companies,” Roth said in its note.

The investment firm added LeMaitre was expected to deliver 33% EPS growth in 2024, with double-digit top-line growth and improving margins.

Roth set its price target for the stock at $100.