Goldman Sachs Downgrades Volcano Corp. (VOLC) to Neutral, Removes from CL List

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Goldman Sachs downgraded Volcano Corp. (NASDAQ: VOLC) from Conviction Buy to Neutral with a price target of $25.00 (from $32.00).

The firm note recent results Volcano's 2013 outlook point to continued pressure on the
base business, slowing new growth drivers, and lower EBIT leverage. Goldman said the stock is now a "show me" story, having missed sales three of the last four quarters and guiding below Street three consecutive times.

The firm cut FY13 EPS from $0.18 to $10 and FY14 from $0.45 to $0.37.

For an analyst ratings summary and ratings history on Volcano Corp. click here. For more ratings news on Volcano Corp. click here.

Shares of Volcano Corp. closed at $24.67 yesterday, with a 52 week range of $23.08-$30.59.

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Related Entities

Goldman Sachs Conviction Buy List, Goldman Sachs

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