Benchmark analyst Bruce Jackson lowered the firm’s price target on Exact Sciences to $67 from $91 and keeps a Buy rating on the shares. Exact turned in better-than-expected Q2 results and maintained revenue guidance for the remainder of 2024, but the multiple compression in the space is prompting the firm to lower its price target calculation based on a lower multiple applied to its 2025 revenue estimate, the analyst tells investors. The firm is “still bullish on the shares” and continues to believe that Cologuard can continue to build on the momentum seen in 2023, the analyst added.
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