Guardant Health price target raised to $38 from $30 at Canaccord

Canaccord analyst Kyle Mikson raised the firm’s price target on Guardant Health to $38 from $30 and keeps a Buy rating on the shares. After hosting a discussion last week with two experts with FDA and guideline experience, the analyst is incrementally more positive on Guardant’s screening opportunity. The experts were enthusiastic about the long-term potential of blood-based cancer screening, the analyst tells investors in a research note. Following the discussion, the firm views the FDA panel meeting as a net positive, and it is more confident about the revenue opportunity for Guardant’s Shield.