Piper Jaffray Neutral On American Med. Systems (AMMD)

Piper Jaffray has a Neutral rating and a $22 price target on shares of American Med. Systems AMMD. In a note to clients, Piper Jaffray writes, "We have updated our model to reflect actual Q4-10 results and 2011 guidance. The changes to our model overall are only modest. We have trimmed our top line 2011 estimate just slightly and increased our EPS slightly, mostly to reflect a lower tax rate with the inclusion of the R&D tax credit. We remain at a Neutral rating with a $22/share price target." Shares of AMMD gained 79 cents yesterday to close at $21.57, a gain of 3.8%.