Cantor Fitzgerald analyst Jordan Abrams last night initiated coverage of Pacific Biosciences of California with an Overweight rating and $5 price target. The analyst thinks Pacific's long-read next generation sequencing platform is the industry standard for deep genomic analysis in human, plant, and animal genomes, as well as RNA. While the company has seen mixed revenue performance over the past three years, it is "getting close to an inflection point," which the Street is missing, Abrams told investors in a research note. He sees "multiple paths to revenue acceleration."