UPDATE: Jefferies Reiterates Buy Rating, Raises PT on Cyberonics Following Management Meetings

In a report published Wednesday, Jefferies analyst Raj Denhoy reiterated a Buy rating on

, and raised the price target from $59.00 to $60.00. In the report, Jefferies noted, “Cyberonics is firing on all cylinders in epilepsy, which should drive strong and sustainable growth for some time. And despite the recent setback with depression, new indications like CHF could substantially expand the addressable market for VNS. After meetings with management following the robust F4Q results and guidance this past week, we continue to highlight CYBX as a top small cap pick.” Cyberonics closed on Tuesday at $51.92.