UPDATE: MLV Raising Price Target on Cerus Corp.

MLV is out with a research report on Cerus Corp.

and it is reiterating its Buy rating and raising its price target to $5. In a note to clients, MLV writes, "Cerus announced that it has signed a new two-year supply agreement with the French National Blood Service (

) for plasma and platelet kits. We expected an agreement to be signed around this time and are pleased to see that the volumes associated with the contract are significantly larger than the previous contract." Shares of CERS are up 1 cent to $2.83 today.