UPDATE: Morgan Keegan Raises PT on RadNet to $5.15 (RDNT)

Morgan Keegan is out with its report today on RadNet RDNT, raising its PT from $4.30 to $5.15. In a note to clients, Morgan Keegan writes, "We are modestly lowering our 2011 adjusted EBITDA estimate for RadNet from $118 million to $115 million and our 2012 estimate from $126 million to $124 million. However, we are raising our price target from $4.30 to $5.15 based on a multiple of 6.5x EV/EBITDAR." Morgan Keegan maintains Outperform on RDNT. At the time of posting, shares of RDNT were trading at $4.37, down 0.68% from Friday's close.