Jefferies Cuts Price Target on ReWalk Robotics (RWLK) to $10; Reiterates Buy
- Dollar lower, stocks flat as caution creeps in ahead of Trump inauguration
- General Electric (GE) Reports In-Line Q4 EPS
- Procter & Gamble (PG) Tops Q2 EPS by 2c
- IBM (IBM) Tops Q4 EPS by 13c, FY17 EPS Guidance Beats Consensus
- American Express (AXP) Misses Q4 EPS by 7c, FY17 EPS Guidance Tops Views at Mid-Poinit
Get inside Wall Street with StreetInsider Premium. Claim your 2-week free trial here.
Jefferies maintained a Buy rating on ReWalk Robotics Ltd. (NASDAQ: RWLK), and cut the price target to $10.00 (from $16.00), following the company's 3Q earnings report. Revenues beat expectations by $200K. This was driven by 6 rental conversions in the quarter. RWLK reiterated its guidance of $6.2-7.0mn for 2016.
Analyst Raj Denhoy commented, "ReWalk's 23 units in 3Q were down 1 sequentially, but matched the 23 from a year ago. Outside of this 23, 7 future sales are expected to be converted from 3 users beginning training in a Stanford study and 4 in a VA study. The pipeline grew by just 186 qualified leads vs. the 316 in 2Q. However the company is confident in a 4Q rebound and sales guidance was reiterated at $6.2-7.0mn for the year."
Shares of ReWalk Robotics Ltd. closed at $2.75 yesterday.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- United Rentals (URI) PT Raised to $130 at Jefferies Ahead of 4Q Report
- UPDATE: JPMorgan Upgrades Checkpoint Software (CHKP) to Overweight
- Aegis Capital Starts Amazon.com (AMZN) at Buy
Create E-mail Alert Related CategoriesAnalyst Comments, Analyst EPS Change, Analyst PT Change
Related EntitiesJefferies & Co, Earnings
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!