Tempus AI price target raised to $65 from $60 at BTIG

BTIG raised the firm’s price target on Tempus AI (TEM) to $65 from $60 and keeps a Buy rating on the shares. The company delivered a solid Q1 revenue beat highlighted by 31% Y/Y core Tempus genomics revenue, 43% Y/Y growth in data revenue, and better-than-expected contribution from its recently acquired Ambry Genetics hereditary testing business, the analyst tells investors in a research note. Tempus’ opportunity in MRD is also likely not priced into the stock, BTIG adds.