Canaccord Genuity Reiterates a 'Buy' on Solta Medical (SLTM); LipoSonix Drives in Strong Q2

July 27, 2012 2:49 PM EDT
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Price: $2.92 --0%

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Canaccord Genuity reiterates a 'Buy' on Solta Medical (NASDAQ: SLTM) price target of $6.00.

Analyst, William J. Plovanic, said, "We reiterate our rating following another strong quarter, with Q2/12 outperforming our and consensus expectations on the top and bottom lines. Liposonix drove results with 98 systems placed in the quarter vs. our estimate of 75. A strong H1/12 leaves us more confident in our thesis that 2012 will be a transformative year for Solta as Liposonix is likely to provide the scale necessary for the company to reach profitability. This was evident as Q2/12 was operating profitable excluding the increase in the contingent payout for Liposonix."

For an analyst ratings summary and ratings history on Solta Medical click here. For more ratings news on Solta Medical click here.

Shares of Solta Medical closed at $3.31 yesterday.

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