Alere Given New $45.00 Price Target at Wunderlich (ALR)
Wunderlich boosted their target price on shares of Alere (NYSE:ALR) from $40.00 to $45.00 in a research note issued on Friday, Analyst Ratings News reports. The firm currently has a “buy” rating on the stock. Wunderlich’s target price would suggest a potential upside of 16.55% from the stock’s previous close.
Other equities research analysts have also recently issued reports about the stock. Analysts at JMP Securities initiated coverage on shares of Alere in a research note to investors on Wednesday, December 18th. They set an “outperform” rating and a $45.00 price target on the stock. Analysts at Jefferies Group raised their price target on shares of Alere to $50.00 in a research note to investors on Monday, November 25th. One analyst has rated the stock with a sell rating, two have assigned a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company. The stock presently has an average rating of “Buy” and an average target price of $36.20.
Alere (NYSE:ALR) last announced its earnings results on Tuesday, October 29th. The company reported $0.59 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.53 by $0.06. The company had revenue of $753.90 million for the quarter, compared to the consensus estimate of $737.66 million. During the same quarter in the previous year, the company posted $0.43 earnings per share. The company’s revenue for the quarter was up 9.0% on a year-over-year basis.
Alere Inc is a provider of point-of-care diagnostics and services. The Company’s products and services help healthcare practitioners make treatment decisions and improve outcomes for individuals living with chronic disease.
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