BTIG Starts Alere (ALR) at Buy

BTIG initiated coverage on Alere (NYSE: ALR) with a Buy rating and a price target of $48.00.

Analyst Dane Leone said, "Under the assumption that ALR operates as an independent entity over the next several years, we think the new management team will have multiple levers to create value with the business. Between ALR’s proprietary diagnostic products and global distribution platform, the company has a strong presence in the Point‐of-Care diagnostic industry, which is estimated to grow at a +7% CAGR over the next several years. ALR is our top Value investment idea, and we rate the stock Buy with a US$48 target price."

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 $38.70 yesterday.

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