UPDATE: Oppenheimer Raises PT on Cepheid to $42
Oppenheimer is out with its report today on Cepheid (NASDAQ: CPHD), raising its PT from $38 to $42.
In its report, Oppenheimer writes, "CPHD delivered yet another impressive quarter, posting revenue of $70M and GAAP EPS of $0.03, ahead of both our and the Street's forecasts. Growth came from continued system placements, increased consumable pull-through, and margin improvement. Based on 3Q11 results, management once again raised revenue guidance from $265-270M to $269-272M. With 2,487 systems placed globally, and a full pipeline of menu-expanding tests, we're hard pressed to find holes in this growth story. We are raising our price target to $42 from $38 and reiterate our Outperform rating."
At the time of posting, shares of CPHD were trading pre-market at $38.73, up 0.47% from Thursday's close.
