Market Overview

JPMorgan Upgrades Qiagen After Product Surveys, Valuation Analysis

JPMorgan Upgrades Qiagen After Product Surveys, Valuation Analysis

New management at Qiagen NV (NYSE: QGEN) would likely pursue several opportunities for portfolio rationalization and cost reduction, according to JPMorgan.

The Analyst

JPMorgan’s Tycho Peterson upgraded the rating on Qiagen from Underweight to Overweight, while raising the price target from $25 to $40.

The Thesis

The swing to a bullish rating for Qiagen follows “our recent buy-side survey, two new product surveys, and valuation analysis,” Peterson said in the upgrade note.

There have been news reports of a possible Qiagen takeout in the near term. Barring this, there seems to be potential for the company’s new management team to reset the bar and capitalize on portfolio rationalization and cost reduction opportunities, Peterson mentioned.

The worst seems to be over Qiagen, the analyst said, while added that existing “crown jewels,” like QuantiFERON, QIAsymphony, CDx, bioinformatics and forensics, are likely to continue performing well and supporting core growth.

Price Action

Shares of Qiagen has spiked almost 4.96% to $37.21 at the time of publishing on Thursday.

Latest Ratings for QGEN

Nov 2019UpgradesHoldBuy
Nov 2019Initiates Coverage OnHold
Nov 2019UpgradesUnderweightOverweight

View More Analyst Ratings for QGEN
View the Latest Analyst Ratings

Posted-In: JPMorgan Tycho PetersonAnalyst Color Upgrades Price Target Analyst Ratings


Related Articles (QGEN)

View Comments and Join the Discussion!

Latest Ratings

TOLGoldman SachsInitiates Coverage On42.0
KBHGoldman SachsInitiates Coverage On36.0
YEXTSunTrust Robinson HumphreyMaintains28.0
LHCGSunTrust Robinson HumphreyMaintains160.0
DLRSunTrust Robinson HumphreyMaintains140.0
View the Latest Analytics Ratings
Don't Miss Any Updates!
News Directly in Your Inbox
Subscribe to:
Benzinga Trading Daily
Get pre-market outlook, mid-day update and after-market roundup emails in your inbox.
Market in 5 Minutes
Everything you need to know about the market - quick & easy.
Daily Analyst Rating
A summary of each day’s top rating changes from sell-side analysts on the street.
Thank You

Thank you for subscribing! If you have any questions feel free to call us at 1-877-440-ZING or email us at

Mid-Afternoon Market Update: Contura Energy Drops Following Q3 Results; International Game Technology Shares Surge

PreMarket Prep Recap: What A Move In Disney, Analyst Thinks Apple Has Topped Out