UPDATE: Jefferies Lowers PT on RadNet to $3.50

Jefferies is out with its report today on RadNet RDNT, lowering its PT to $3.50 from $4.50. In its report, Jefferies writes, "We are adjusting our PT to $3.50 to reflect our view that investor aversion toward microcap stocks is high at the moment given elevated levels of equity market volatility and macroeconomic uncertainty. Our revised PT is derived by applying a 5.5x EV/EBITDA multiple to our FY12 EBITDA estimate of $119.3MM." Jefferies maintains Hold on RDNT. Shares of RDNT closed Tuesday at $3.09.