TD Cowen analyst Dan Brennan raised the firm’s price target on Exact Sciences to $120 from $92 and keeps an Outperform rating on the shares. The firm noted the held their first investor day in 8 yrears which delivered on many counts; impressive pipeline data, robust 5-year financial targets, a 2Q FCF beat, a pipeline roadmap, showcasing strength/depth of senior management and a look at the company’s highly automated/scalable lab. We think the day was a positive event and expect the stock to recover from its selloff yesterday.
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Published first on TheFly
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