Jefferies Raises Est./PT on Gen-Probe (GPRO) After Q4 Results and Accelerating Core Revenue Growth Trajectory

Jefferies raised its price target on Buy-rated Gen-Probe (NASDAQ: GPRO) from $73 to $78 following Q4 EPS non-GAAP EPS of $0.72, which was $0.03 ahead of consensus as a lower than expected tax rate (+$0.04) and share count (+$0.02) more than offset weaker profit trends.

The firm comments, "We are raising our 2012 EPS forecast to $2.59 (from $2.55) on favorable adjustments below the line, tempered somewhat by more conservative operating leverage expectations. Our price target moves to $78 (from $73) on higher cash flow forecasts."

For an analyst ratings summary and ratings history on Gen-Probe click here. For more ratings news on Gen-Probe click here.

Shares of Gen-Probe closed at $67.61 yesterday.

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