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A report from Jefferies reiterates its Buy rating and raises its price target from $37 to $42 on Cepheid
CPHD.
The report states, “CPHD's 3Q11 GAAP EPS of $0.03 was $0.01 ahead of consensus on better- thanexpected revenue growth and profit trends. We are trimming our 2011 EPS forecast by $0.01 (to $0.09) on stepped-up R&D outlays planned for 4Q11. Our
2012 EPS forecast ($0.55) in unchanged. Our price target moves to $42 (from
$37) on higher cash flow forecasts”.
CPHD closed yesterday at $38.55.
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