UPDATE: Goldman Sachs Cuts PT to $4.60 on ZELTIQ Aesthetics Following Q4 Results
Goldman Sachs reiterated its Neutral rating on ZELTIQ Aesthetics (NASDAQ: ZLTQ) and reduced its price target from $5 to $4.60.
Goldman Sachs noted, "Zeltiq announced preliminary 4Q2012 results that were well below our estimates and consensus. … Zeltiq is still trying to figure out its go-to-market strategy and how to target the most appropriate customer. We think this lack of strategic direction over the past two quarters has been the primary culprit of poor sales execution. We also see competitive pressures (especially Solta's LipoSonix product) as having impacted results, a trend that should remain a headwind for the foreseeable future."
ZELTIQ Aesthetics closed at $4.74 on Friday.
Latest Ratings for ZLTQ
|Feb 2015||Stifel Nicolaus||Maintains||Buy|
|Oct 2014||Canaccord Genuity||Maintains||Buy|
|Oct 2014||JP Morgan||Maintains||Neutral|
© 2015 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.