Ascendiant Capital Raises PT on Photomedex After Better Than Expected Q4 Results

In a research report published Thursday, Ascendiant Capital analyst Keay Nakae raised the price target from $18 to $20 on Photomedex

and maintained a Strong Buy rating after better than expected Q4 results. In the report Ascendiant said, "The Company ended the quarter with $62 MM in cash and equivalents compared to $55 MM at the end of Q3, even after spending $5.4 MM to repurchase 418K shares of its stock during the quarter. Management expects Q1 revenue to be at least $57 MM." On Wednesday, Photomedex closed at $16.00.