It Could Be a Nasty Flu Season, Get Your Shot and Buy Quidel (QDEL) - Piper Jaffray

Piper Jaffray analyst William Quirk commented on Quidel Corp. (NASDAQ: QDEL) while urging investors to receive their annual flu vaccine, as their analysis points to a harsh upcoming influenza season - a positive for the company.

"Using the Australian influenza season as our basis (ILIs +201% yoy, R2 = 0.76 with the northern hemisphere), our analysis suggests a 34% rise in influenza-like illnesses (ILI) season-over-season and an increase in testing revenue of ~28.0% for QDEL. This scenario suggests $5M upside to our current +15.7% (Q4 and Q1) influenza A/B estimate."

He added, "Interestingly, this surging flu activity is coming despite the vaccine targeting the most prevalent strains (the northern and southern hemisphere vaccines are identical this year). Accordingly, we believe this year's season could be stronger than investors are currently expecting, leading revenue higher for QDEL and, accordingly, we remain OW."

The firm reiterated an Overweight rating and price target of $27.00

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 $25.27 yesterday.

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