UPDATE: Canaccord Genuity Upgrades Cyberonics (CYBX) to Buy; Overcoming Pessimistic Expectations
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Price: $49.39 +0.24%
Rating Summary:
9 Buy, 1 Hold, 1 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 20 | Down: 36 | New: 12
Rating Summary:
9 Buy, 1 Hold, 1 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 20 | Down: 36 | New: 12
Trade CYBX Now!
(Updated - August 29, 2012 8:50 AM EDT)
Canaccord Genuity upgraded Cyberonics (NASDAQ: CYBX) from Hold to Buy. PT raised to $56 from $34.
Analyst, William J. Plovanic, said, "We are upgrading Cyberonics as our previous concerns about the impact of a competitive drug entering the market and a slowdown in replacement sales have not played out to our pessimistic expectations. Furthermore, the company continues to execute from both a sales and product development standpoint. Lastly we believe a change in reimbursement to coverage for treatment-resistant depression by CMS could provide significant upside to expectations and the stock price."
For an analyst ratings summary and ratings history on Cyberonics click here. For more ratings news on Cyberonics click here.
Shares of Cyberonics closed at $46.36 yesterday, with a 52 week range of $24.64-$49.89.
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Canaccord Genuity upgraded Cyberonics (NASDAQ: CYBX) from Hold to Buy. PT raised to $56 from $34.
Analyst, William J. Plovanic, said, "We are upgrading Cyberonics as our previous concerns about the impact of a competitive drug entering the market and a slowdown in replacement sales have not played out to our pessimistic expectations. Furthermore, the company continues to execute from both a sales and product development standpoint. Lastly we believe a change in reimbursement to coverage for treatment-resistant depression by CMS could provide significant upside to expectations and the stock price."
For an analyst ratings summary and ratings history on Cyberonics click here. For more ratings news on Cyberonics click here.
Shares of Cyberonics closed at $46.36 yesterday, with a 52 week range of $24.64-$49.89.
Join StreetInsider.com FREE and get immediately alerted when news breaks on your stocks and other market items - JOIN NOW
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