UPDATE: JMP Securities Initiates Coverage on Cepheid on Market Leader Position
In a report published Wednesday, JMP Securities analyst J.T. Haresco initiated coverage on Cepheid (NASDAQ: CPHD) with a Market Perform rating.
In the report, JMP Securities noted, “We are initiating coverage of Cepheid with a Market Perform rating. The company is the market leader in the Hospital-Acquired Infection (HAI) space, and, in our opinion, is well positioned to play a significant role in three long-term trends: 1) the continued implementation of HAI monitoring processes; 2) hospital labs transitioning from traditional immunoassay technologies to molecular techniques; and 3) expansion of the company's test menu. In the near-term, however, the HAI market remains relatively weak - an issue that we believe will remain a headwind for the stock. Thus, we believe shares are fairly valued at current levels and we are opting to remain on the sidelines until our channel checks indicate increased momentum on the aforementioned trends.”
Cepheid closed on Tuesday at $44.96.
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