EDAP TMS price target lowered to $5 from $6 at Piper Sandler

Piper Sandler analyst Jason Bednar lowered the firm’s price target on EDAP TMS (EDAP) to $5 from $6 and keeps an Overweight rating on the shares following Q3 results. From a stock perspective, the choppy top-line performance over the past several quarters combined with only gradual progress on profitability during that period has overly pressured valuation, presenting an opportunity for small-cap medtech investors, Piper told investors in a research note.