UPDATE: JP Morgan Lowers PT on Gen-Probe from $85 to $64

J.P. Morgan has published a report on Gen-Probe GPRO lowering the price target from $85.00 to $64.00. In the report, J.P. Morgan wrote, "2Q11 results were better than many had feared, in light of the difficult quarter for healthcare utilization-exposed companies (QGEN, DGX, HCA), coming in just slightly below our estimate, although with much better CT/NG sales than we had anticipated." J.P. Morgan rated Gen-Probe a Neutral with price target reduced from $85.00 to $64.00. Gen-Probe closed Thursday at $60.90.