Deutsche Bank analyst raises QIAGEN stock price to $60. Should you buy QGEN now? – Idaho Reporter

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Deutsche Bank analyst raises QIAGEN stock price to $60. Should you buy QGEN now?

After the deal between Thermo Fisher and Qiagen (NYSE:QGEN) was cancelled yesterday, QGEN stock holders feel as if they are on a crossroads now. Important crossroad. Should they sell or buy more QGEN shares?

This is a question that have only one answer, at least according to Deutche Bank analyst, Falko Friedrichs. According to him QGEN is no longer a HOLD stock but rather a strong BUY stock with a $60 price tag.

The failure of the deal came as no surprise, since the biotechnology and genetic diagnostics company is going through the corona crisis with a tailwind and, in view of the tests offered, is probably worth significantly more than the price offered by Thermo Fisher. Qiagen has already benefited significantly from the crisis and its corona tests should be in high demand at least until next year. The analyst increased his price target from $32 to $60.

However, not all analysts are so euphoric. DZ Bank lowered its fair value for the share from 43 to 42.40 Euros and gave the stock a “hold” rating.

The analysis company Jefferies has also lowered the rating for Qiagen after the failed takeover by the US technology group Thermo Fisher on “Hold” . The biotechnology and genetic diagnostics company must now face its future alone, wrote analyst Peter Welford in a study published on Thursday. There is short-term support for Qiagen from Covid-19, as the company benefits from various tests that it has developed.

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