Natera price target raised to $132 from $125 at Morgan Stanley

Morgan Stanley analyst Tejas Savant raised the firm’s price target on Natera to $132 from $125 and keeps an Overweight rating on the shares. Natera provided a “typical” print which featured a “strong” Q2 beat on volume growth, ASP momentum, strong cash collections, with gross margin upside driving another quarter of positive cash flow, the analyst tells investors in a research note. The firm says the premium multiple is justified by multiple drivers of near- and long-term estimate upside and a clear line-of-sight to profitable and self-sustaining growth.