UPDATE: BTIG Research Initiates Coverage On Alere Inc As Top Value Pick

In a report published Friday, BTIG Research analyst Dane Leone initiated coverage on Alere Inc ALR with a Buy rating and $48.00 price target. In the report, BTIG Research noted, “Under the assumption that ALR operates as an independent entity over the next several years, we think the new management team will have multiple levers to create value with the business. Between ALR's proprietary diagnostic products and global distribution platform, the company has a strong presence in the Point‐of‐Care diagnostic industry, which is estimated to grow at a +7% CAGR over the next several years. ALR is our top Value investment idea, and we rate the stock Buy with a US$48 target price.” Alere Inc closed on Thursday at $39.21.