NeoGenomics price target lowered to $18 from $20 at Benchmark

Benchmark analyst Bruce Jackson lowered the firm’s price target on NeoGenomics to $18 from $20 and keeps a Buy rating on the shares after the company reported better-than-expected Q2 results and raised guidance for the remainder of 2023. The stock and the comp group have “settled into a lower multiple range,” so the firm is lowering its price target, but it adds that it would accumulate shares on weakness as it contends that the guidance laid out at the analyst meeting in April argue for a multiple “closer to the midpoint of the comp group range.”