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.