Canaccord Genuity Reiterates a 'Buy' on Quidel Corp. (QDEL); Q2 Preview: Exciting Launch in Series of New Products

July 12, 2012 1:48 PM EDT
Get Alerts QDEL Hot Sheet
Price: $19.52 -1.11%

Rating Summary:
    2 Buy, 11 Hold, 0 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 23 | Down: 34 | New: 34
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Canaccord Genuity reiterates a 'Buy' on Quidel Corp. (NASDAQ: QDEL) price target of $25.00.

Analyst, Jeffrey Frelick, said, "We expect Quidel to report Q2 sales of $30.7M (+11.8% Y/Y), in line with consensus of $30.3M, and EPS of ($0.08), above consensus of ($0.09)."

"Quidel is transforming itself from a predominant flu test company to a diverse rapid test POC company...We think the company can execute on its goal to drive $100M of new product revenue by 2014. We expect incremental $13M, $44M, and $100M of new product sales in 2012, 2013, and 2014, respectively."

For an analyst ratings summary and ratings history on Quidel Corp. click here. For more ratings news on Quidel Corp. click here.

Shares of Quidel Corp. closed at $16.20 yesterday.

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