Canaccord Maintains Buy Rating and $43.50 PT on Arthocare

A report from Canaccord reiterates its Buy rating and $43.50 price target on Arthocare (NASDAQ: ARTC). The report states, “ArthroCare announced it had reached a preliminary settlement agreement for its outstanding shareholder class action lawsuits for $74M. We believe investors will view this positively as it removes one of the major remaining legal headwinds for the company, leaving the DOJ as the last legal overhang.” ARTC closed yesterday at $25.56.