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 (NASDAQ: PHMD) 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.
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