Myriad Genetics initiated with an Equal Weight at Morgan Stanley

Morgan Stanley analyst Tejas Savant initiated coverage of Myriad Genetics with an Equal Weight rating and $32 price target. The company’s new sales growth target of 12% following multiple quarters of solid execution and an operational turnaround “is encouraging,” the analyst tells investors in a research note. The firm says that while Myriad’s growth-adjusted valuation “looks fair,” it views upside from current levels as contingent on evidence of a sustained growth acceleration into the mid-teens range.