Syneron Medical (ELOS) Reports In-Line Q3 EPS

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Go back to Syneron Medical (ELOS) Reports In-Line Q3 EPS

OEM Customer Loss Drives Revenue Miss on Syneron Medical Ltd (ELOS); Leerink Partners Cuts Price Target to $9.40

November 12, 2015 6:52 AM EST

Leerink Partners maintained an Outperform rating on Syneron Medical (NASDAQ: ELOS), and cut the price target to $9.40 (from $16.00), following the company's 3Q earnings report. Revenues of $62.1M missed estimates by ~$4M due mainly to an OEM customer loss & weakness in the EMEA region.

Analyst Richard Newitter commented, "As evidenced by... More