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UPDATE: Goldman Sachs Upgrades Myriad Genetics to Buy on Expanded Portfolio, Domestic Bias

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Goldman Sachs raises its rating on Myriad Genetics (NASDAQ: MYGN) and raises its price target from $27 to $29.

Goldman Sachs says, "We upgrade shares of MYGN to Buy from Neutral for four reasons: (1) we believe the recent reimbursement concerns are overdone and believe that the patent debate does not pose near/medium term risk; (2) MYGN's highly US-focused business offers several new product catalysts; (3) we see potential for improved capital allocation to drive share outperformance in 2H; and (4) we believe the scarcity value of established Diagnostics assets warrants an M&A premium in our price target methodology."

MYGN closed at $23.77 on Friday.

Latest Ratings for MYGN

DateFirmActionFromTo
Jan 2016Deutsche BankInitiates Coverage onBuy
Jan 2016Avondale PartnersInitiates Coverage onMarket Outperform
Dec 2015Goldman SachsUpgradesSellNeutral

View More Analyst Ratings for MYGN
View the Latest Analyst Ratings

Posted-In: Goldman SachsAnalyst Color Price Target Initiation Intraday Update Analyst Ratings

 

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