UPDATE: Jefferies Raising Price Target On Luminex Corp

Jefferies & Co. is out with a research report on Luminex Corp LMNX and is raising its price target to $18 from $17, and it has a Hold rating on shares. In a note to clients, Jefferies & Co. writes, "LMNX's 2Q11 non-GAAP EPS of $0.14 was $0.08 ahead of consensus on vastly stronger revenue growth and profit trends. We are raising our 2011 and 2012 EPS forecast to $0.40 (from $0.30) and $0.55 (from $0.45) respectively. Our price target moves to $18 (from $17) on higher cash flow forecasts." Shares of LMNX lost $1.18 yesterday to close at $18.50, a loss of 6%.