Qiagen downgraded to Neutral from Buy at Redburn Atlantic

Redburn Atlantic downgraded Qiagen (QGEN) to Neutral from Buy with a price target of EUR 41, down from EUR 47. The firm reduced the company’s revenue estimates to reflect its “mature” growth profile and more uncertain outlooks in Qiagen’s polymerase chain reaction and genomics businesses. Redburn sees continued high-single-digit growth in Qiagen’s Diagnostic Solutions portfolio, but says its overall growth has slowed, diluted by a more mature low-single-digit Sample Technologies business and continued below-trend growth in PCR and genomics.