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NEW YORK (GenomeWeb) – Investment bank Piper Jaffray has upgraded its rating on Genomic Health's stock to overweight, maintaining a price target for shares of $72, based on an assessment of the current pace of the company's business ahead of a German reimbursement decision that is expected to finalize today.

In a note to investors, analyst William Quirk said that the company's stock has been off significantly since it announced its Q1 earnings, necessitating the rating upgrade to maintain the existing price target.

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