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Fly News Breaks for August 2, 2016
CEMI
Aug 2, 2016 | 08:43 EDT
Craig-Hallum analyst Bill Bonello believes Chembio Diagnostics shares can double over the next two years as the $1.5B rapid test market shifts from traditional technology to Chembio's proprietary DPP technology, adding that he think's Chembio could double revenue based on the Zika opportunity alone. The DPP technology is on the market today for detection of STD's, but that opportunity is "dwarfed by fever illness," Bonello tells investors. The firm reiterates its Buy rating and $10 price target on Chembio shares.
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