UPDATE: Wedbush Securities Reiterates Neutral Rating, Raises PT on Alere on 4Q14 Recap

In a report published Wednesday, Wedbush Securities analyst Zarak Khurshid reiterated a Neutral rating on

, and raised the price target from $38.00 to $41.00. In the report, Wedbush Securities noted, "ALR is the largest rapid point-of care testing company with large franchises in infectious disease and cardiology testing. The business is looking more streamlined follow the key divestiture of Disease Management segments and significant rationalizations and refocusing. Organic top-line growth in the core professional has been lackluster, with the company on pace for negative 1% top-line growth in 2014 and 4% organic growth in 2015, assuming a relatively strong flu and cold season and recovery of recalled products. With inconsistent FCF, which is likely to drive at best in-line FCF yield vs. the peers (~4%) in 2015 and a highly complex business structure, with pricing pressure and GM pressure, it's hard for us to be bullish on shares at current levels. We are somewhat optimistic with the recent departure of CEO & Founder Ron Zwanziger and the new CEO's aggressive cost-cutting activities. If we were to see a reacceleration of profitable Cardiology revenues and/or non-flu related Infectious disease sales, along with meaningful deconvolution of the business as well as a more coherent new product strategy we could become more bullish on shares." Alere closed on Tuesday at $42.75.