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Fly News Breaks for November 14, 2019
QGEN
Nov 14, 2019 | 07:51 EDT
JPMorgan analyst Tycho Peterson double upgraded Qiagen to Overweight from Underweight with a price target of $40, up from $25. Barring a near-term takeout, the analyst sees potential for new management to "reset the bar and pursue abundant opportunities" for portfolio rationalization and cost reduction. As such, the worst is in the rearview for Qiagen, Peterson tells investors in a research note. He believes Qiagen's "existing crown jewels" or QuantiFERON, QIAsymphony, bioinformatics and forensics should continue to support its core growth.
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