QuidelOrtho upgraded to Buy from Neutral at Citi

Citi upgraded QuidelOrtho (QDEL) to Buy from Neutral with a price target of $50, up from $44. The firm cites the company’s “attractive discounted valuation” and management’s commitment to re-aligning the cost structure and expanding margins for the upgrade. Heading into 2025, investor appetite for life science tools and diagnostics remains light, but there are “pockets of areas to be more constructive such as bioprocessing where the recovery is underway,” the analyst tells investors in a research note.