Jefferies analyst Tycho Peterson has reiterated their bullish stance on QGEN stock, giving a Buy rating on February 14.
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Tycho Peterson’s rating is based on several optimistic developments in Qiagen’s business strategy and market position. The company is poised to outperform its competition in the latent TB market, especially with its QuantiFERON product, and has strategically accounted for potential competition from Roche. Qiagen’s success in legal battles and its partnerships, such as with Quest, further strengthen its market standing.
Additionally, Qiagen’s advancements in the digital PCR market are promising. The recent acquisition of a competitor by Bio-Rad has left Qiagen in a favorable position to gain market share due to the lack of comparable products at a similar price point. The company’s focus on operational efficiency is expected to drive significant margin improvements, with management confident about exceeding operating margin targets in the coming years. This, along with a strategic approach to capital allocation and a robust outlook for Qiagen’s diagnostics division, underpins the Buy rating.
In another report released on February 14, Deutsche Bank also maintained a Buy rating on the stock with a $47.00 price target.