Canaccord Genuity Reiterates a 'Buy' on Quidel Corp. (QDEL); Several Avenues of Growth
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Price: $14.74 -0.74%
Rating Summary:
7 Buy, 10 Hold, 1 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 8 | Down: 5 | New: 26
Rating Summary:
7 Buy, 10 Hold, 1 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 8 | Down: 5 | New: 26
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Canaccord Genuity reiterates a 'Buy' on Quidel Corp. (NASDAQ: QDEL) price target raised from $21 to $25.
Analyst, Jeffrey Frelick, said, "We reiterate our rating on QDEL after recently spending some time on the road with management, which reinforced our confidence in Quidel’s growth prospects as it marches toward an expected $100M in new product revenue by 2014."
"We raise our QDEL price target to $25 from $21, as we increase our P/sales multiple to 4.5x from 4.0x on our 2013 revenue estimate of $185M. We believe QDEL’s expansion into higher value tests (next-gen lateral flow and molecular diagnostics) deserves a premium to the POC peer group multiple of 3.2x."
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 $17.77 yesterday.
Analyst, Jeffrey Frelick, said, "We reiterate our rating on QDEL after recently spending some time on the road with management, which reinforced our confidence in Quidel’s growth prospects as it marches toward an expected $100M in new product revenue by 2014."
"We raise our QDEL price target to $25 from $21, as we increase our P/sales multiple to 4.5x from 4.0x on our 2013 revenue estimate of $185M. We believe QDEL’s expansion into higher value tests (next-gen lateral flow and molecular diagnostics) deserves a premium to the POC peer group multiple of 3.2x."
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 $17.77 yesterday.
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