Guardant Health price target lowered to $53 from $70 at Cowen

Cowen analyst Max Masucci lowered the firm’s price target on Guardant Health to $53 from $70 and keeps an Outperform rating on the shares. The analyst said with out-year estimates likely coming down and the company’s ultra-premium valuation back to earth, we believe long-term investors are well-positioned to initiate and/or add to existing GH positions following its Q4 print.