EDAP TMS price target lowered to $4.50 from $5 at Piper Sandler

Piper Sandler lowered the firm’s price target on EDAP TMS (EDAP) to $4.50 from $5 and keeps an Overweight rating on the shares. The firm notes the company reported Q4 results, including revenue of $21.5M/+1.1% year-over-year vs. Street’s $21M/PSC $20.9M, confirming Piper’s view that above-expected revenue was likely after learning in January the sales team locked in a record Focal One quarter. The firm continues to see EDAP as undervalued at current levels.