UPDATE: MLV & Co Downgrades Uroplasty to Hold on Slowing Growth, Competitive Concerns
MLV & Co downgraded Uroplasty (NASDAQ: UPI) from Buy to Hold and announced a $3.00 price target.
MLV & Co noted, "Given our expectations for low growth over the next year and the recent approval of two competitive products for OAB from companies with much greater marketing prowess (and budgets) than Uroplasty, we no longer have sufficient visibility to project when the company may reach profitability. Further, we believe lessthan-positive market sentiment and a lack of any meaningful nearterm catalysts will continue to weigh heavily on the shares."
Uroplasty closed at $2.74 on Monday.
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