Piper Jaffray Remains Bullish on ZELTIQ Aesthetics (ZLTQ) Ahead of Cynosure’s Competitive Body Contouring Launch
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Rating Summary:
7 Buy, 6 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 11 | New: 11
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Piper Jaffray reiterated an Overweight rating and $40.00 price target on ZELTIQ Aesthetics (NASDAQ: ZLTQ) ahead of Cynosure’s upcoming competitive body contouring launch during an analyst day on September 15th. Analyst Matt O'Brien expects Volatility in ZLTQ shares during that time.
O'Brien commented, "We expect volatility in ZLTQ shares around Cynosure’s upcoming competitive body contouring launch during its analyst meeting on Sept.15. While we certainly expect trialing and utilization, our checks and analysis indicate that the system is painful (a major factor in whether or not physicians will recommend it to their patients), needs energy modulation and, at the end of the day, we do not anticipate it will affect ZELTIQ’s ability to meet or beat numbers in the coming years. Further, we point out that the body contouring market is a ~$4B opportunity that is large enough for multiple players, in our opinion. Consequently, we absolutely do not believe investors who own the name should move to the sidelines in front of this release, and we encourage new money to start positions with a readiness to add to those positions if shares weaken around this competitive noise."
For an analyst ratings summary and ratings history on ZELTIQ Aesthetics click here. For more ratings news on ZELTIQ Aesthetics click here.
Shares of ZELTIQ Aesthetics closed at $32.27 yesterday.
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