Canaccord Genuity Reiterates a 'Buy' on Solta Medical (SLTM); LipoSonix Significantly Expands Solta's Waistline

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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 strong Q1/12 results fuelled by robust market acceptance of LipoSonix. Solta placed 78 new LipoSonix systems in the Q1/12, well above our estimate for 30. We came away more confident in our thesis that 2012 is shaping up to be a transformative year for Solta as the LipoSonix product cycle will likely provide the scale necessary for the company to reach profitability."

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 $3.24 yesterday, with a 52 week range of $1.15-$3.69.

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