Exact Sciences price target raised to $80 from $72 at Evercore ISI

Evercore ISI analyst Vijay Kumar raised the firm’s price target on Exact Sciences to $80 from $72 and keeps an Outperform rating on the shares. In MedTech, utilization remains positive into Q3 and the capex outlook into the next year remains “healthy,” says Evercore. In life science tools, bioprocess trends for are on track for improvement in the second half, but the debate is around the instrument outlook and China stimulus given the recent run in stocks in the space, the analyst tells investors in MedTech and Tools Q3 preview. Additionally, the analyst is adding several other names in the group to the firm’s “Tactical Outperform” list and keeping Exact Sciences on the list heading into Q3 results.