from $109 to a Street-high $136, arguing that he sees 'significant further upside' for the medical device stock.'s new BinaxNow coronavirus test- the sixth test launched by the company in the US.
"The demand for the new test was underscored by the U.S. government order for nearly all of ABT's capacity for BinaxNow, which equates to 150 mil units " commented Miksic on August 31. While the magnitude of near-term sales is clear, the analyst notes that investors are still questioning the sustainability of sales and how much share ABT will ultimately capture.
However, he believes that lateral flow tests , which can be performed without instruments or equipment, by a wide range of individuals, will be an important and widely used tool for mitigating the risk of spreading the virus while reopening businesses and schools. And while antibody tests have seen only limited utility and demand to date, he expects demand for immunity testing to increase as vaccines are approved, distributed and administered. "Our new estimates reflect these projected dynamics over the next 24-36 months" stated Miksic.
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