Brokerages raise Edap PT on strong Q4 preliminary results

Edap Tms SA

15/02/2023 15:53

** Brokerages raise PT for France-based medical equipment maker Edap Tms SA
 EDAP.O  on strong Q4 preliminary rev 
    ** Co on Tuesday reported prelim Q4 rev of 15.8 million euros ($16.86
million) vs 14 million euros ($14.94 million) the year before 
    ** EDAP TMS develops and manufactures minimally invasive devices utilizing
ultrasound technology for various applications such as prostate cancer and
kidney stones
    ** H. C. Wainwright raises PT to $13 per ADS from $12; maintains "buy"
rating 
    ** Brokerage is encouraged by its growth in the high intensity focused
ultrasound (HIFU) technology segment
    ** EDAP's HIFU – or high intensity focused ultrasound machine – Focal One is
used to treat prostate cancer by removing affected tissues without much risk to
other glands
    ** Piper Sandler raises PT to $14 from $12; maintains "overweight" rating 
    ** Brokerage expects Focal One placements to get "meaningfully higher over
the coming years" after co records nine placements in the U.S. over Q4 bringing
the total sum to 36
    ** "The customer funnel is in good shape for 2023, with a good mix of leads
from academic institutions and for-profit community" - Piper
    ** Stock is up ~5% YTD
($1 = 0.9373 euros)
 (Reporting by Anirban Chakroborti in Bengaluru)
 ((Anirban.Chakroborti@thomsonreuters.com;))