Qiagen downgraded to Equal Weight from Overweight at Morgan Stanley

Morgan Stanley downgraded Qiagen (QGEN) to Equal Weight from Overweight with a $48 price target The firm also upgrade the medical technology sector view to Attractive from In-line. However, Morgan Stanley sees a more balanced risk/reward for Qiagen in 2025, saying its positive growth drivers like QIAStat and QIAcuity could be offset by concerns on competition risk in latent tuberculosis testing. The firm’s channel checks indicate credible competition in the U.S. multiplex market from competitors more strongly positioned on menu and pricing. As such, it sees see limited scope for outperformance of Qiagen shares in 2025.