UPDATE: Canaccord Genuity Reiterates On Alere On Positive Outlook

In a report published Thursday, Canaccord Genuity analyst Mark Massaro reiterated a Buy rating on

, and raised the price target from $45.00 to $50.00. In the report, Canaccord Genuity noted, “We reiterate our BUY rating on Alere and raise our PT to $50 from $45 as we now assign a 33% chance of a $60/share takeout as the company continues to evaluate its strategic alternatives, which we believe have been expedited with the recent resignation of three former board members.” Alere closed on Wednesday at $37.77.