Monday, November 22, 2010

Quidel's (NASDAQ:QDEL) Rapid Flu Test Should Drive them Soon

With flu season not too far away, Quidel Corp. (NASDAQ:QDEL) should soon be the beneficiary, along with their shareholders, of their trusted rapid flu test.

"We reiterate our rating on QDEL as we believe Quidel’s strong brand reputation and loyalty for its rapid flu test will serve it well when the 2010/2011 flu season finally emerges (we estimate late Q1/11)...We believe QDEL deserves to trade near the POC group average multiple on 2011E price/sales," said Canaccord.

Quidel closed on Friday at $12.82, rising by $0.07, or 0.55 percent. A price target of $18 is held on them by Canaccord. Trading volume was level with the 3-month average.

Canaccord maintains a "Buy" rating on Quidel.

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