UPDATE: Oppenheimer Reiterates on Fluidigm on Revised View of Single-Cell Opportunity
In a report published Thursday, Oppenheimer analyst Matthew Pommer reiterated an Outperform rating on Fluidigm (NASDAQ: FLDM), and raised the price target from $28.00 to $35.00.
In the report, Oppenheimer noted, “We are increasing our price target and 2013-14 projections following discussions with Fluidigm and news that the UK's Medical Research Council (MRC) will offer new funding for single-cell research. It is our opinion that FLDM is positioned well for continued growth. We see the company's offerings for single-cell genomics as differentiated, and the early success of the C1 system as evidence of its utility to research laboratories. With an installed base of nearly 100 C1 systems ending 3Q13, we believe an installed base of ~400 units by year-end 2015 is achievable. We increase our target to $35 from $28 and reiterate our Outperform rating.”
Fluidigm closed on Wednesday at $32.03.
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