UPDATE: Piper Jaffray Lowers PT on AngioDynamics on Lowered Revenues, Earnings Estimates
In a report published Friday, Piper Jaffray reiterated its Neutral rating on AngioDynamics (NASDAQ: ANGO), but slightly lowered its price target from $12.00 to $11.00.
Piper Jaffray noted, “We are keeping our Neutral rating on ANGO after the pre-released Q3 (Feb). Revenues were unexpectedly low, with a myriad of contributors to the miss. Earnings will also miss with negative leverage. Our Neutral rating reflects a mid-point between our new slower growth assumptions and uncertainty in the timing of a turnaround, and the counterbalancing of the lower valuation that investors have quickly placed on ANGO shares. We are lowering our PT from $12 to $11 to reflect the slower growth, lower numbers, and uncertain timing.”
AngioDynamics closed on Thursday at $11.00.
Latest Ratings for ANGO
|Jul 2014||Raymond James||Maintains||Outperform|
|Jun 2014||Canaccord Genuity||Upgrades||Hold||Buy|
|Mar 2014||Raymond James||Upgrades||Market Perform||Outperform|
© 2015 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.