NeoGenomics price target raised to $19 from $17 at Goldman Sachs

Goldman Sachs analyst Matthew Sykes raised the firm’s price target on NeoGenomics to $19 from $17 and keeps a Buy rating on the shares after its Q4 earnings beat. The company delivered “solid” top line growth and guided to revenue growth in FY24 of 10%-12%, which allowed them to raise their long term growth guidance from 7%-9% set at their investor day last year to over 10%, the analyst tells investors in a research note. This as an encouraging sign of the restructuring taking place at NeoGenomics under current management as they focus on revenue cycle management, the firm added.