UPDATE: Morgan Keegan Upgrades Solta Medical to Outperform

Morgan Keegan raises its rating on Solta Medical (NASDAQ: SLTM) to Outperform from Market Perform and raises its price target by 25 cents to $3.75 a share on positive field checks on LipoSonix.

Morgan Keegan says, "We recently surveyed several US physicians who have trialed Solta's LipoSonix fat reduction system. Based on our conversations, the initial feedback is positive, which gives us confidence that Solta can compete in the fast growing non-invasive fat reduction market. With the opportunity for upside to 2012 sales and an attractive valuation, we are upgrading shares of Solta."

SLTM closed at $2.81 a share on Friday.