Renewing Veins Gives Esc A Leg Up

Despite the frenzy in initial public offerings, it's hard to be blase about the splash ESC Medical Systems (ESCMF) is making. ESC was taken public by Smith Barney and Montgomery Securities on Jan. 24 at 15 a share and closed that day at 27. Analyst Stephen Handley of Smith Barney quickly boosted his 12-month price target to a lofty 40. Montgomery's Leonard Yaffe set a target of 39. Those proved to be low: The stock hit 45 7/8 on Apr. 23.

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