Monday, December 20, 2010

Gen-Probe (NASDAQ:GPRO) Appears Undervalued

Following their recent investor day where they reviewed their various business, Gen-Probe (NASDAQ:GPRO) appeared to be undervalued in the opinion of Canaccord.

Canaccord said, "We reiterate our BUY on Gen-Probe following its annual investor meeting yesterday, where it reviewed its current businesses, high value pipeline, and its corporate strategy, all of which we believe are undervalued. Revenue growth outlook for 2011 is high-single-digits."

Canaccord Genuity maintains a "Buy" rating on Gen-Probe, which closed Friday at $58.22, up $0.16, or 0.28 percent. They have a price target on them of $65.

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