JPMorgan analyst Tycho Peterson downgraded Qiagen to Underweight from Neutral with a price target of $25, down from $38. Last night's "disappointing" Q3 results, which included a greater than 25% decline in China, "raises obvious questions" about the health of the China IVD and molecular testing markets, in addition to Qiagen's ability to execute on long-term revenue acceleration plans, Peterson tells investors in a research note. Further, the CEO departure adds more uncertainty to the near- and medium-term outlook, adds the analyst. The company's organic growth acceleration is "clearly taking longer than anticipated" while its valuation provides "little room for support," contends Peterson.