Canaccord Genuity Reiterates a 'Buy' on Cepheid (CPHD); Updating Model and Raising Price Target
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Price: $52.95 --0%
Rating Summary:
11 Buy, 14 Hold, 1 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 12 | Down: 23 | New: 22
Rating Summary:
11 Buy, 14 Hold, 1 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 12 | Down: 23 | New: 22
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Canaccord Genuity reiterates a 'Buy' on Cepheid (NASDAQ: CPHD), raises price target from $40 to $45.
Canaccord analyst, Jeffrey Frelick, said, "We reiterate our rating and raise our price target following strong Q2 results where CPHD reported better than expected revenue, EPS, and instrument placements. Cepheid’s results correspond well with our prior work this month where hospital lab interviews and industry expert consultants touted the benefits of CPHD’s ease-of-use platform and broad test menu, making it attractive for labs to adopt molecular testing."
"2011 guidance increased. CPHD’s revenue guidance for this year was revised
up to $265M-$270M from $245-$255M.Due to the Q2 beat and strong reagent
growth, we are raising our 2011 estimates to $266M and $0.11 from $255M
and $0.03."
For more ratings news on Cepheid click here and for the rating history of Cepheid click here.
Shares of Cepheid closed at $40.77 yesterday.
Canaccord analyst, Jeffrey Frelick, said, "We reiterate our rating and raise our price target following strong Q2 results where CPHD reported better than expected revenue, EPS, and instrument placements. Cepheid’s results correspond well with our prior work this month where hospital lab interviews and industry expert consultants touted the benefits of CPHD’s ease-of-use platform and broad test menu, making it attractive for labs to adopt molecular testing."
"2011 guidance increased. CPHD’s revenue guidance for this year was revised
up to $265M-$270M from $245-$255M.Due to the Q2 beat and strong reagent
growth, we are raising our 2011 estimates to $266M and $0.11 from $255M
and $0.03."
For more ratings news on Cepheid click here and for the rating history of Cepheid click here.
Shares of Cepheid closed at $40.77 yesterday.
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