Wolfe Research upgraded Qiagen to Outperform from Peer Perform with a $50 price target. The analyst is “incrementally more confident” in Qiagen’s potential to outperform its peers over the next year following the capital markets day, saying management laid out a plausible path to reach greater than 7% organic growth and greater than 31% operating margin. In the current environment, Qiagen’s portfolio screens attractive with a high percentage of recurring revenue, the analyst tells investors in a research note. The firm says the company has multiple medium-term growth drivers with strong market positions.
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