Wedbush Adds Cepheid (CPHD) to its Best Ideas List, Reiterates $45 Price Target
Tweet
Share
E-mailGet Alerts CPHD Hot Sheet
Price: $52.95 --0%
Rating Summary:
11 Buy, 14 Hold, 1 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
Rating Summary:
11 Buy, 14 Hold, 1 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
Join SI Premium – FREE
Wedbush is reaffirming its Outperform rating and $45 price target on shares of Cepheid (NASDAQ: CPHD) as the firm's Investment Committee has added it to its "Best Ideas List."
The company's July and August job postings showed an consistent increase in manufacturing related positions which highlights growth in instrument and cartridge demand.
Cepheid increased its 2011 revenue guidance by 7 percent following its second quarter results and the firm believes that the Street has not fully appreciated what it means.
To reflect strong instrument sales from VA, Labsco distribution, and new GeneXpert (2x & 80x) flavors, Wedbush is increasing its 2012 EPS and revenue estimates from $0.45 and $326.5 million to $0.48 and $332 million. For 2011, the firm tweaked its EPS and revenue estimates slightly to $0.10 and $270.2 million.
An analyst at Wedbush comments, "The positive 2Q11 inflection and more recent signal gives us comfort with the 2011 instrument placement opportunity, TB rollout, and potential upside from other test menu. We believe superior technology, revenue & profit enhancing abilities, and the early stage of rollout insulates CPHD more from macro economic weakness versus the competition."
For more ratings news on Cepheid click here and for the rating history of Cepheid click here.
Shares of Cepheid closed at $36.23 yesterday.
The company's July and August job postings showed an consistent increase in manufacturing related positions which highlights growth in instrument and cartridge demand.
Cepheid increased its 2011 revenue guidance by 7 percent following its second quarter results and the firm believes that the Street has not fully appreciated what it means.
To reflect strong instrument sales from VA, Labsco distribution, and new GeneXpert (2x & 80x) flavors, Wedbush is increasing its 2012 EPS and revenue estimates from $0.45 and $326.5 million to $0.48 and $332 million. For 2011, the firm tweaked its EPS and revenue estimates slightly to $0.10 and $270.2 million.
An analyst at Wedbush comments, "The positive 2Q11 inflection and more recent signal gives us comfort with the 2011 instrument placement opportunity, TB rollout, and potential upside from other test menu. We believe superior technology, revenue & profit enhancing abilities, and the early stage of rollout insulates CPHD more from macro economic weakness versus the competition."
For more ratings news on Cepheid click here and for the rating history of Cepheid click here.
Shares of Cepheid closed at $36.23 yesterday.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Fiserv (FISV) PT Lowered to $60 at Freedom Broker
- Freedom Broker Upgrades Lifeway Foods (LWAY) to Buy
- McGraw Hill (MH) PT Raised to $15 at UBS
Create E-mail Alert Related Categories
Analyst CommentsSign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!
