RBC Capital Raises PT on QuidelOrtho Corporation From $60 to $62, Keeps Buy Rating

QuidelOrtho Corporation (NASDAQ:QDEL) is one of the 14 Best Small Cap Stocks to Buy Right Now. On September 2, RBC Capital raised the price target on QuidelOrtho Corporation (NASDAQ:QDEL) stock from $60 to $62, keeping its Buy rating.

Conor McNamara from RBC Capital increased the price target on QDEL followed by QuidelOrtho’s completion of a series of transactions to refinance its debt structure and support future growth. On August 22, the company announced that it had extended its debt maturities and reduced required amortization payments.

RBC Capital Raises PT on QuidelOrtho Corporation From $60 to $62, Keeps Buy Rating

“We are pleased to successfully complete our debt refinancing, which allows us to strengthen our capital structure while maintaining financial flexibility. Our highest capital allocation priority remains reducing our total debt and net debt leverage. By improving the debt covenant terms and reducing the required amortization over the life of the loan, we will have greater financial flexibility and options to fund the continued growth of our business, while also improving our cash flow,” said Joseph Busky, Chief Financial Officer, QuidelOrtho.

McNamara remains positive on QuidelOrtho as the company experienced notable growth in international markets during Q2 FY2025, particularly across Latin America, Japan, Asia Pacific, and EMEA regions. Moreover, the company is focused on its molecular strategy, especially the acquisition of LEX Diagnostics, which is expected to improve its growth potential.

As of September 5, QuidelOrtho Corporation’s (NASDAQ:QDEL) average price target of $37.50, based on analysts’ estimates, implies an upside of almost 30.75% from current levels.

QuidelOrtho Corporation (NASDAQ:QDEL) offers diagnostic testing solutions. The company operates through Labs, Transfusion Medicine, Point of Care, and Molecular Diagnostics business units.

While we acknowledge the potential of QDEL to grow, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an AI stock that is more promising than QDEL and that has 100x upside potential, check out our report about this cheapest AI stock.

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Disclosure: None. This article is originally published at Insider Monkey.