Roth Capital downgraded Cutera (CUTR) to buy from strong buy, after the cosmetic treatment company on Monday posted fourth quarter results.
Analyst Mark Taylor says Cutera announced its revenues were up 49% year over year year, among other things. Its balance sheet ended 2005 with $92 million in cash. Taylor raised his 98 cents 2006 earnings per share estimate to $1.00, and his $1.27 2007 estimate to $1.34. But he maintains a 12-month stock price target of $35, given remaining uncertainty over Cutera's upcoming May 2006 patent trial.