Canaccord Adams Upgrades Cutera (CUTR) to Buy; Channel Checks Indicate Stabilization in Revenues
CUTR Hot Sheet
Rating Summary:2 Buy, 0 Hold, 0 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 16 | Down: 7 | New: 23
Canaccord Adams upgrades Cutera (Nasdaq: CUTR) from Hold to Buy. Price target increased to $10.50 from $9.75.
Canaccord analyst says, "Industry checks support our current expectations for Cutera to report sequentially flat revenues in the Q3/09. We believe that stabilization of revenues during a seasonally weak quarter confirms a steady base for future growth. Given that Cutera is trading nearly at cash and at a 75% discount to the laser comp group, we believe that the risk/reward scenario is highly favorable given the early signs of a steadying business. We would note that we are estimating $11.6M in revenues while consensus expectations are calling for a sequential increase to $12.4M in sales...We believe that stabilization of the business supports valuing shares at a reduced discount to the laser comp group."
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.
Canaccord analyst says, "Industry checks support our current expectations for Cutera to report sequentially flat revenues in the Q3/09. We believe that stabilization of revenues during a seasonally weak quarter confirms a steady base for future growth. Given that Cutera is trading nearly at cash and at a 75% discount to the laser comp group, we believe that the risk/reward scenario is highly favorable given the early signs of a steadying business. We would note that we are estimating $11.6M in revenues while consensus expectations are calling for a sequential increase to $12.4M in sales...We believe that stabilization of the business supports valuing shares at a reduced discount to the laser comp group."
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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