Qiagen Has Steady Income And Defensive Growth Potential, Goldman Sachs Upgrades Stock
Portfolio Pulse from Vandana Singh
Goldman Sachs has upgraded Qiagen NV (NYSE:QGEN) from Neutral to Buy, citing its steady income from selling sample preparation tools and diagnostics, defensive growth potential, and favorable valuation compared to the sector. Qiagen's business is considered resilient, even in times of reduced spending on big equipment, and is trading at a significant discount to the sector despite high single-digit to low double-digit core organic growth over the past year. The company's end market exposure and defensive nature are seen as advantages in the current uncertain environment, particularly in Pharma R&D and Capex spending. QGEN shares saw a 0.95% increase to $41.84.
December 07, 2023 | 6:39 pm
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POSITIVE IMPACT
Qiagen NV has been upgraded by Goldman Sachs from Neutral to Buy due to its steady income, defensive growth potential, and favorable valuation compared to its sector. The company's resilience in uncertain market conditions and its defensive end market exposure are key factors in this positive outlook.
The upgrade by Goldman Sachs is a strong positive signal for investors, indicating a belief in Qiagen's continued performance and growth potential. The company's defensive nature and favorable valuation compared to the sector suggest that it may outperform its peers, especially in a market that values stability. The recent price action reflects a positive market reaction to the upgrade, which could lead to a short-term increase in stock price.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100