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.
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