EDAP TMS downgraded to Neutral from Overweight at Piper Sandler

Piper Sandler downgraded EDAP TMS (EDAP) to Neutral from Overweight with a price target of $1.50, down from $4.50. The downgrade is “less about 1Q results,” which were “fine even if not spectacular,” and more about the operational and financial challenges the firm sees over the next year, the analyst tells investors.