UPDATE: JP Morgan Initiates Cepheid at Overweight on Growth Outlook

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JP Morgan initiated coverage on Cepheid
CPHD
with an Overweight rating and a $47 price target. JP Morgan noted, "As an early leader in the rapidly-growing molecular diagnostics industry, CPHD already has a large commercial installed base of >2,650 of its GeneXpert systems, which can run any of the company's expanding menu of diagnostic tests; the company has 11 FDA-cleared tests available (14 internationally), a number set to grow to ~25 by 2015, while expanding the addressable market by >$1B. After evaluating competitive offerings, including through a proprietary lab survey, we are confident that the company's market leadership is sustainable." Cepheid closed at $38.95 on Tuesday.
Posted In: Analyst ColorInitiationPre-Market OutlookAnalyst RatingsJP Morgan
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