Qiagen: First feedback from Qiagen's Investors Day
BUY, Fair Value Under Review
During this Investors Day, a diversified portfolio with significant growth perspectives on QiaSymphony, QuantiFeron TB, Personalised healthcare and Bio-Informatics was promoted. In sequencing, the strategy was detailed with a launch expected to take place in 2014 of Qiagen’s global solution which has the potential to differentiate from the competition in our view. Among highlights from the day is clearly the focus on margins and cash-flow generation as well as the new bonus system for management that has just been implemented. Profit-taking yesterday was the result of rumours about an exit by the second biggest shareholder in the US, unfounded. Should this be reflected in Europe then a comeback at around EUR17 per share would be a good opportunity to reinforce positions in the stock. FV under review.
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