OCDX - Several Street firms initiate Ortho Clinical Diagnostics with a buy

A number of Wall Street firms, including Bank of America, J.P. Morgan, Citi, and Credit Suisse have initiated shares of Ortho Clinical Diagnostics Holdings plc (OCDX) with buy or overweight ratings.Bank of America analyst Derik de Bruin, who has a $23 price target on shares, says the company serves a $26B market growing mid-single digits with about a 10% share in the clinical lab space and a "top share" in transfusion medicine.Credit Suisse analyst Erin Wilson Wright has a $21 price target on shares and writes that as a refocused in vitro diagnostics company, Ortho is "positioned to reinvigorate growth."J.P. Morgan analyst Tycho Peterson, who has a $25 price target on shares, writes that Ortho "demonstrates stable top-line growth and margin expansion...offering upside to current levels."Trading in the company began on Jan. 28.Ortho shares are up 3.8% to $17.43 in morning trading.

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Several Street firms initiate Ortho Clinical Diagnostics with a buy