Neogen (NEOG) has faced operational challenges due to a failed merger, causing its stock price to drop by 85% in the past three years. Despite this, the company’s core business is strong, with a range of food safety products. The new management team is working on a turnaround, including a review of non-core assets. Neogen’s valuation is attractive, making it a potentially lucrative investment opportunity with limited downside. The company’s growth potential could lead to a significant stock re-rate in the future. This contrasts with a bullish thesis on Illumina, emphasizing different investment opportunities.

Read more at Yahoo Finance: Neogen (NEOG): A Bull Case Theory