Craig-Hallum Upgrades Quidel Corp. (QDEL) to Buy

Craig-Hallum analyst Bill Bonello upgraded Quidel Corp. (NASDAQ: QDEL) from Hold to Buy with a price target of $57.00 (from $40.00).

The analyst comments "We are upgrading QDEL from Hold to Buy as we believe the company has significant untapped earnings power which will be unlocked over the course of the next several years. We believe that Quidel can generate mid-to-high single digit revenue growth, with mid-to-high 20s EBITDA margins by 2027. If we are right, EBITDA could be at least $750 million in 2027, with an upside scenario of more than $850 million. Our 12-month price target of $57 assumes an EV multiple of 11x 2025 EBITDA. With comparable companies trading at 12x-14x forward year EBITDA, it is conceivable that QDEL shares could reach $100 or more, two years from now."

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 $40.36 yesterday.

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