Craig-Hallum lowered the firm’s price target on Guardant Health to $54 from $64 on adjustment of comp multiples, while keeping a Buy rating on the shares. The firm notes Guardant Health reported Q4 preliminary results, with revenue and volume both showing upside, and cash burn coming in as anticipated. 2024 guidance was not provided, though ending Q4 on a high-note for ASPs and volumes sets the company up for a strong 2024, and Craig-Hallum thinks at least 20% growth is possible – potentially more, depending on timing of approvals.
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