UPDATE: Cantor Fitzgerald Maintains Cepheid at Hold on Analyst Day Takeaways

Cantor Fitzgerald reiterated its Hold rating and $40 price target on Cepheid

. Cantor Fitzgerald commented, "Following the disappointing 3Q preannouncement, the key highlight from CPHD Analyst Day was the focus on the company's future. … We believe management has 3Q manufacturing issues under control (recall 1Q issues were fully addressed ahead of expectations); however, with shares trading at 5.8x EV/2013E sales (85% premium to a peer group), we think significant upside to valuation is limited at this point and look for further clarity on the HBDC business contribution near-term, share gain potential in the CT/NG segment, and more consistent margin improvements." Cepheid closed at $35.18 on Thursday.