UPDATE: Benchmark Company Reiterates Buy Rating, Lowers PT on Analogic Corporation

In a report published Wednesday, Benchmark Company reiterated its Buy rating on Analogic Corporation

, but lowered its price target from $90.00 to $87.00. Benchmark Company noted, “We are transitioning coverage of ALOG from the Defense & Homeland Security industry to the Medical Device industry. We believe that this transition better represents ALOG's business model, as 88% of ALOG's fiscal 2012 revenue was driven by their Medical Imaging and Ultrasound business while 12% of ALOG's revenue was driven by Security Technology.” Analogic Corporation closed on Tuesday at $73.07.