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By a GenomeWeb staff reporter

NEW YORK (GenomeWeb News) – Piper Jaffray today initiated coverage of Meridian Bioscience with an Underweight rating, saying that its nascent molecular diagnostics business faces multiple challenges from competitors.

The investment bank gave Meridian a $14 target price on its stock, and estimated 2011 sales at $159.8 million, resulting in net earnings of $28.5 million, or $.69 per share.

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