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Fly News Breaks for August 29, 2019
QDEL
Aug 29, 2019 | 15:15 EDT
Craig-Hallum analyst Alexander Nowak upgraded Quidel to Buy from Hold and raised his price target for the shares to $75 from $63. The stock in afternoon trading is up 12%, or $6.78, to $64.95. With today's appeals court win versus Beckman Coulter, Quidel's lawsuit risk is "greatly dissolved" and investors can turn attention back to the bull thesis, Nowak tells investors in a research note. The thesis consists of a "strong" core free cash flow business, margin expansion, new product launches, and potential acquisitions, contends the analyst.