UPDATE: Jefferies Lowers PT on Gen-Probe to $75

Jefferies is out with its report today on, Gen-Probe GPRO, lowering its PT from $92 to $75. In a note to clients, Jefferies writes, "According to media reports, NVS is no longer actively pursuing an acquisition of GPRO. Although we remain in denial, as the concept that a well-capitalized and entrenched molecular diagnostic franchise would be unable to attract a healthy premium in current market conditions is inconceivable to us, we are lowering our price target to $75 (from $92), which previously contemplated a 50% probability of a successful sale." Jefferies maintains Buy on GPRO. At the time of posting, shares of GPRO were trading pre-market at $63.34, up 1.49% from Tuesday's close.