Morgan Stanley lowered the firm’s price target on Guardant Health to $66 from $73 and keeps an Overweight rating on the shares, arguing there were "no surprises" in the company’s quarterly report following a January pre-announcement. Though the mid-point of guidance was modestly below recently lowered estimates, soft guidance was anticipated and the firm argues that "now isn’t the time to throw in the towel" as it sees a compelling risk/reward given its view of "multiple areas of conservatism" in the outlook and an attractive valuation.
Published first on TheFly
See Insiders’ Hot Stocks on TipRanks >>
Read More on GH:
- Guardant Health price target lowered to $50 from $60 at BTIG
- Guardant Health price target lowered to $60 from $65 at Canaccord
- Guardant Health price target lowered to $53 from $70 at Cowen
- Guardant Health price target lowered to $65 from $75 at JPMorgan
- Guardant Health Earnings Update: Did it Beat Estimate Forecasts?