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In a report published Thursday, Citigroup analyst Daniel Arias reiterated a Buy rating on
CepheidCPHD, and raised the price target from $52.00 to $62.00.
In the report, Citigroup noted, “Following positive data shown at the Nov. AMP mtg, CPHD expects CE mark approval for their HIV Viral Load (VL) test by yr-end. We see availability in High-Burden Developing Countries (HBDC) as a significant opportunity w/in an estimated $400-500M HIV-VL market, given the high coinfection rate for HIV & tuberculosis (TB) & large installed base of HBDC GeneXpert systems (>3500). We have attempted to forecast HBDC revs for HIV-VL going fwd.”
Cepheid closed on Wednesday at $53.50.
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