UPDATE: Goldman Sachs Downgrades Volcano Corporation to Neutral; Growth Lacking Visibility
Goldman Sachs downgraded Volcano Corporation (NASDAQ: VOLC) from Conviction Buy to Neutral and lowered the price target from $32.00 to $25.00.
Goldman Sachs commented, "We downgrade shares of Volcano Corp (VOLC) from CL-Buy to Neutral, as recent results and Volcano's 2013 outlook point to continued pressure on the base business, slowing new growth drivers, and lower EBIT leverage. We now see Volcano as a “show me” story, having missed sales three of the last four quarters and guiding below Street three consecutive times. Further, there are limited clinical/regulatory catalysts to drive an outer year inflection point."
Volcano Corporation closed at $24.67 on Thursday.
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