Syneron Medical, Ltd. (ELOS)

Syneron Medical, Ltd. (ELOS - Snapshot Report) competes in the very competitive aesthetic devices market. With more than half of its sales derived from the United States, a weak economic outlook leads us to believe that sales growth will slow. As a result, we have reduced our revenue and EPS estimates.

Given the largely discretionary nature of the aesthetics laser business, the outlook could weaken further given current trends in the global economy. We are reducing out target price and recommending a Sell rating for this stock.