UPDATE: Canaccord Genuity Reiterates Cepheid at Buy with $50 PT Post Analyst Day

Canaccord Genuity maintained its Buy rating and $50 price target on Cepheid (NASDAQ: CPHD).

Canaccord Genuity noted, "We reiterate our BUY rating and $50 price target on CPHD given its solid 20% revenue growth, large customer base (approaching 3,000), and an unmatched test menu (11 FDA approved assays). Cepheid's analyst day provided an update to investors on its long-term financial targets, competitive advantages, and future products. However, due to three consecutive missed quarters, no EPS visibility, and lengthening selling cycles, CPHD shares experienced a pullback."

Cepheid closed at $35.18 on Thursday.

(c) 2013 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.