Will Co-Diagnostics Stock Go to $30?

Jason McCarthy, an analyst at Maxim Group, has raised the investment bank's rating on Co-Diagnostics (NASDAQ: CODX). Increasing sales of Co-Diagnostics' test for COVID-19 led McCarthy to upgrade the stock to a buy and give it a $30 price target.

Despite McCarthy's ambitious new price target and rating upgrade, shares of Co-Diagnostics fell about 2.5% during the first half of Wednesday's trading session. At the stock's recent price of $18.27, Maxim's new target suggests a 63% gain once the rest of the market sees the company's future in the same light as McCarthy.

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