Citi Has $5 Target On CardioNet (BEAT)

Citi Investment Research has a $5 price target and a Sell rating on CardioNet, Inc. BEAT. In a research note, Citi writes, "While being granted a national reimbursement code was an important positive milestone for CardioNet, the rate was a disappointment and more importantly we believe that management's patient volume targets remain at risk, hence our Sell rating." Shares of BEAT gained 20 cents yesterday to close at $5.29, a gain of nearly 4%.