Cepheid (CPHD) PT Raised to $72 at MKM Partners

MKM Partners analyst Peter Lawson reiterated a Buy rating and boosted his price target on Cepheid (NASDAQ: CPHD) to $72.00 (from $65.00) following Q2 results.

Lawson commented, "We are reiterating our Buy rating and raising our PT to $72 following 2Q results. CPHD beat consensus revenue by $2mm and missed EPS by two cents. Revenue guidance was nudged up on the beat. 3Q guide was soft, 4Q is above consensus but realigns Street with historical revenue pacing. Placements were strong across the board, indications of strong future demand. Clinical reagents were below our estimates but we see no slip in market share and a full pipeline to support growth. We expect a detailed discussion at CPHD’s Analyst Day on July 27."

The firm increases 2016 estimates, "We are maintaining our 2015 revenue estimate of $555mm, $4mm above the Street, and lowering EPS by two cents. We are lowering 3Q and raising 4Q revenue estimates based on the 2H guidance. For 2016 we are increasing our revenue estimate from $640.0mm to $650.0mm as a knock on effect from 2015, and increasing EPS a penny."

For an analyst ratings summary and ratings history on Cepheid click here. For more ratings news on Cepheid click here.

Shares of Cepheid closed at $62.93 yesterday.

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