Canaccord Adams Initiates Coverage on Cutera (CUTR) with a Hold
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Canaccord Adams initiates coverage on Cutera (Nasdaq: CUTR) with a Hold. $9.75 price target.
Canaccord analyst says, "Cutera is currently re-aligning its sales force to increase focus on dermatologists and plastic surgeons (core physicians). The company has historically had a very strong customer base in the non-core physician group, but to adapt to current economic headwinds, Cutera is looking to improve its position with more stable core physicians. We believe this process will take six to nine months to generate sustainable results...That said, Cutera has reported declining revenues since the Q4/07 with no sign of stabilization in the H1/09. We believe that once the company can stabilize its business, margins will benefit from volume and the global sales force."
To see more analyst ratings on CUTR Click Here.
Cutera, Inc., a medical device company, engages in designing, developing, manufacturing, marketing, and servicing laser and other light-based aesthetics systems for practitioners worldwide.
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