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Fly News Breaks for December 10, 2018
QDEL
Dec 10, 2018 | 07:41 EDT
Barclays analyst Jack Meehan lowered his price target for Quidel to $77 from $85 but recommends using Friday's selloff as a buying opportunity. Many investors expect Quidel to ultimately prevail in the August 2019 case given the history of the contract and relationship, and this motion was expected to be dismissed, Meehan tells investors in a research note. He believes that while Friday's news "adds a new wrinkle to the dispute," the risks related to the BNP litigation are now fully reflected in valuation and keeps an Overweight rating on Quidel.
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