Crypto Whales Are Loading Up — Are You?
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The analyst's 2018 earnings per share estimate were also moved higher by 64 percent to $1.34 per share and then rise another 41 percent in fiscal 2019.
"Whether it is luck or being at the right place at the right time, we believe Quidel has done it again and sweetened its already attractive Alere deal," the analyst emphasized.
Looking forward, Quidel's stock is expected to move higher as investors begin to digest the revised deal and accretion estimates, the analyst added. As such, a new multiple of 4x 2018 EV/pro forma revenue is appropriate as opposed to a prior 3x multiple which derives the analyst's new $50 price target.
At last check, shares of Quidel were up 8.12 percent at $44.23.
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New research shows the biggest crypto buyers are back. And this time? They could hold for the possibility that Bitcoin will surpass $100,000 in 2024. You don’t want to miss the next massive crypto bull run like we saw in 2020 and 2021. To know exactly what’s going on and what to buy… Get Access To Benzinga’s Best Crypto Research and Investments For Only $1.