Wedbush Reaffirms Outperform on Cepheid

Wedbush is out with its report today on Cepheid (NASDAQ: CPHD), reaffirming Outperform.

In its report, Wedbush writes, "Reaffirming OUTPERFORM rating and $45 PT. 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."

Shares of CPHD closed Monday at $36.23.