In a note released Monday, ISI Group upgraded shares of Cepheid CPHD from Sell to Neutral and raised the price target to $38.50.
The firm explained that although the stock is trading at the low end of its historical range, it remains on the sidelines due to risks to Cepheid's out-year cash flows.
Additionally the firm noted, to achieve commercial growth in the high teens, Cepheid will need to add more than $40 million of incremental revenue from new products and commercial revenue excluding core HAI.
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