j p morgan starts coverage , page-2

I saw that. Although it wasn't highly favourable given a neutral rating. My gut feeling is that this is a medium to long term play about 3-5 years. The market for heart pumps is hard to work out but the potential is still huge. Given Cochlear is a AUS$4billion company today, there's no reason why Heartware cannot replicate that in US$ terms in the next 3-5 years so long as the patient data remains on track.

Note that Thoratec (THOR) is a US$2.56 billion company today while HWTR (Heartware) is US$900 billion and they still do not have a next generation pump in the making.

Very pie in the sky stuff but the medical business is like that. Lets just wait and see.