UPDATE: Ascendiant Capital Markets Upgrades Solta Medical to Strong Buy

Ascendiant Capital Markets raised its rating on Solta Medical SLTM from Buy to Strong Buy with a $3.75 price target. Ascendiant Capital Markets commented, "Revenue was $35.0 MM (+28%), compared to the consensus estimate of $33.9 MM, in what is seasonally the slowest quarter of the year. GAAP EPS was ($0.04) compared to consensus EPS of ($0.03). Non-GAAP adjusted EPS was $0.03. … In our opinion, the recent weakness in the stock has created an attractive entry point. Hence, we are upgrading our rating to Strong Buy. Our 12-month price target of $3.75 represents a target forward EV/EBITDAS multiple of 12.3x our 2013 estimate." Solta Medical closed at $2.69 on Monday.