UPDATE: Cantor Fitzgerald Reiterates Buy Rating, Raises PT for Solta Medical
In a company update issued earlier today, Cantor Fitzgerald L.P. reiterated its Buy rating for Solta Medical, Inc. (NASDAQ: SLTM) and slightly raised its price target from $4.00 to $5.00, related to the early success of the company's new Liposonix weight-loss treatment.
Cantor Fitzgerald went on to say “In its first quarter out of the gate, Liposonix completely blew away expectations and enabled Solta to post a top-line beat and raise 2012 revenue guidance. Liposonix did overshadow relatively weak base business sales, and a higher mix of capital sales drove slightly lower gross margin, but overall, a positive quarter.”
Solta Medical, Inc. closed yesterday at $3.25.
(c) 2013 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.