Wedbush Upgrades Alere (ALR) to Outperform; FDA Progress - Ability to Supply Market Improves
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Price: $1.32 --0%
Rating Summary:
6 Buy, 7 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
Rating Summary:
6 Buy, 7 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
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Wedbush upgraded Alere (NYSE: ALR) from Neutral to Outperform with a price target of $23.00.
Analyst, Zarak Khurshid, said, "ALR released an 8-k yesterday morning outlining details for the expected recall of product manufactured during 2011 and 1Q12. About 58% of the 803,000 tests recalled relate to cardiac panel tests (worth ~$20 MM in 1Q12)...Significant product return unlikely, given customer inventory turnover and recall language...More favorable product standard is helping ALR effectively supply the market and manage customer expectations...Shares of ALR are off 18% - Risk-reward interesting again."
For an analyst ratings summary and ratings history on Alere click here. For more ratings news on Alere click here.
Shares of Alere closed at $18.32 yesterday.
Analyst, Zarak Khurshid, said, "ALR released an 8-k yesterday morning outlining details for the expected recall of product manufactured during 2011 and 1Q12. About 58% of the 803,000 tests recalled relate to cardiac panel tests (worth ~$20 MM in 1Q12)...Significant product return unlikely, given customer inventory turnover and recall language...More favorable product standard is helping ALR effectively supply the market and manage customer expectations...Shares of ALR are off 18% - Risk-reward interesting again."
For an analyst ratings summary and ratings history on Alere click here. For more ratings news on Alere click here.
Shares of Alere closed at $18.32 yesterday.
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