Quidel (NASDAQ:QDEL) May Still Get Flu Season Says Canaccord

With the pre-announcement of Quidel (NASDAQ:QDEL) that revenues wouldn't reach Street estimates, it seemed all but over for the quarter for them, but according to Canaccord Genuity, they've held that flu season would be later this year, and see Quidel still benefiting from it.

Canaccord says, "While QDEL pre-announced last evening after the close that revenues would be about $5M below Street estimates due to weak flu test sales, we reiterate our BUY as we always believed the 2010/2011 flu season would emerge later, sometime around late Q1/11."

Canaccord Genuity maintains a 'Buy' Quidel Corp., which closed Thursday at $13.23, losing $1.20, or 8.28 percent. Canaccord has a price target on them of $18.