Citi Upgrades Somanetics (SMTS) to Buy
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Citi upgrades Somanetics (Nasdaq: SMTS) from Hold to Buy. Price target increased from $16 to $21.
Citi analyst says, "Recent public comments by Somanetics' CEO, Bruce Barrett, at Citi's annual Healthcare Conference lead us to believe the company will report a solid quarter and at least maintain their outlook for the year when they report F2Q:08 on their upcoming June 18 conference call. Given historical volatility surrounding reported earnings and the strong sell-off post disappointing F1Q:08 results, we expect a strong quarter to recover nicely if this occurs."
Somanetics Corporation, incorporated in 1982, develops, manufactures and markets the In Vivo Optical Spectroscopy (INVOS) System, a non-invasive patient monitoring system that continuously measures changes in the blood oxygen levels in the brain and elsewhere in the body in somatic, or skeletal muscle, tissue in patients with or at risk for restricted blood flow.
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