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Fly News Breaks for November 15, 2019
QGEN, TMO
Nov 15, 2019 | 08:30 EDT
JPMorgan analyst Tycho Peterson says historical comps and synergy opportunities imply a takeover price for Qiagen (QGEN) of $43 per share in a deal with Thermo Fisher (TMO). The analyst assumes Thermo would fund the reported acquisition with a mix of cash on hand and new debt. He sees potential for 75c-80c earnings per share accretion in year one, $1.06-$1.09 accretion in year two, and $1.53 accretion in year five. Further, Peterson feels the antitrust risk of a deal is manageable. He keeps an Overweight rating on Thermo Fisher with a $330 price target.
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