QuidelOrtho downgraded to Hold from Buy at Jefferies

Jefferies analyst Tycho Peterson downgraded QuidelOrtho (QDEL) to Hold from Buy with a price target of $12.50, down from $35. The company reported a “disappointing” Q1 and provided a 2026 outlook that relies on a broad second half of the year inflection across China, Middle East, and respiratory, the analyst tells investors in a research note. Jefferies views the guidance as “aggressive” and expects QuidelOrtho’s China policy risk to linger into 2027. It also views the company’s deleveraging as increasingly uncertain.