QuidelOrtho price target lowered to $55 from $60 at Raymond James

Raymond James lowered the firm’s price target on QuidelOrtho (QDEL) to $55 from $60 and keeps an Outperform rating on the shares. QuidelOrtho reported a strong and “fairly clean” quarter, with revenues roughly in line with estimates, outperformance in Labs, and relatively in-line respiratory revenues, the analyst tells investors in a research note. Raymond James views the updated guidance as prudent given the “show me” nature of the story.