UPDATE: Credit Suisse Initiates Outperform, $40 Target on Cepheid

Credit Suisse initiates coverage on Illumina CPHD with an Outperform rating and $40 target price, as the company's is seen as a best-in-class molecular platform poised for continued and strong growth. Credit Suisse says, “We believe Cepheid's best-in-class GeneXpert platform is poised for increased adoption in the US and internationally as the company maintains leadership in molecular testing for healthcare-associated infections and expands into numerous other testing markets.” CPHD closed at $30.08 per share on Wednesday.