Jefferies Raises Price Target On ArthroCare (NASDAQ: ARTC)

Jefferies & Co. is raising its price target on shares of ArthroCare

to $37 from $35, and is keeping its Buy rating on shares. In a note to clients, Jefferies writes, "After nearly capsizing in the storm caused by a reimbursement scheme in Florida, ArthroCare has turned over management, cleaned up its finances, and is poised for continued strong revenue growth and profitability improvements." Shares of ARTC gained 49 cents yesterday to close at $31.64, a gain of 1.57%.