UPDATE: Goldman Sachs Downgrades Zeltiq; Lowers PT

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In a research report published today, Goldman Sachs has downgraded Zeltiq Aesthetics Inc.
ZLTQ
from Buy to Neutral, and has decreased PT from $19 to $8.50. According to Goldman Sachs, “4Q2011 results and 2012 guidance point to a slower-than-expected ramp trajectory, and we are increasingly concerned about competitive threats. Longer term, we remain optimistic about the prospects for both the aesthetics market and ZELTIQ's technology, but we await signs of improved sales execution. Since being added to the Buy List on 12/19/11, ZLTQ is down 38% vs. the S&P 500 up 11% given weaker-than-expected operating performance. Since the company's IPO on 10/19/11, ZLTQ is down 43% vs. the S&P 500 up 10%.” Zeltiq closed yesterday at $7.36.
Posted In: Analyst ColorDowngradesPrice TargetAnalyst RatingsGoldman Sachs
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