Deutsche Bank analyst Jan Koch upgraded Qiagen (QGEN) to Buy from Hold with an unchanged price target of $54. While the appointment of an external CEO will likely diminish Qiagen’s takeover prospects, the shares should have a limited reaction at the current levels, the analyst tells investors in a research note. The firm cites the company’s “undemanding” valuation, “robust” balance sheet, and average annual shareholder returns of 13% for the upgrade.
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