T2 Biosystems price target raised to $5 from $3 at Canaccord

Canaccord raised the firm’s price target on T2 Biosystems to $5 from $3 and keeps a Hold rating on the shares. The analyst cites improved margin assumptions in its 10-year discounted cash flow model for the target increase. However, the firm remains on the sideline saying questions remain regarding the company’s ability to consistently perform and maintain an adequate capital position. It believes T2 shares are fairly valued.