UPDATE: Cantor Fitzgerald Initiates Accelrys with Buy, $10 PT on Growth Opportunities

Cantor Fitzgerald initiates its coverage on Accelrys

with a Buy rating and a price target of $10 per share. Cantor Fitzgerald notes, "Accelrys is a pure-play, scientific software products and services company that provides tools across the R&D life cycle for the pharmaceutical, academic, food and beverage, chemical and materials industries. Since the merger with comparably-sized software provider Symyx in mid-2010, ACCL has focused on integration, restructuring, and strengthening its product portfolio over the last 18+ months. Although both ACCL and Symyx as standalone companies have struggled with top-line growth over several years, we believe the combined company has emerged better positioned to capitalize on high-growth opportunities within the scientific informatics market." ACCL closed at $8.03 on Tuesday.