BTIG Upgrades Alere (ALR) to Buy
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BTIG upgraded Alere (NYSE: ALR) from Neutral to Buy with a price target of $48. The change follows its release of its 10K.
Analyst Dane Leone said, "Financial clarity provided by the 10K helped to alleviate concern that material deficiencies exist within the current financial model. Furthermore, with added disclosures regarding 2015, we feel more comfortable with our forecasts for 2016/ 2017 – and with the current discount to the $56 price stated within the Abbott (ABT, Buy, $45 PT) merger agreement, we think that it is time to move from the sidelines."
Shares of Alere closed at $38.50 yesterday.
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