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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
May 2016Avondale PartnersMaintainsMarket Outperform
May 2016Leerink SwannMaintainsMarket Perform
Jan 2016Deutsche BankInitiates Coverage onBuy

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

 

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