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Morgan Stanley Reiterates Equal-Weight, Lowers PT On Veracyte As Expectations Are Now Better Calibrated

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In a report published Friday, Morgan Stanley analyst Steve Beuchaw reiterated an Equal-Weight rating on Veracyte Inc. (NASDAQ: VCYT), but lowered the price target from $10.00 to $9.00.

In the report, Morgan Stanley noted, "Despite lower guidance and a higher share count, shares remain inexpensive relative to growth. Organic growth of 40% in '16Eis among the fastest in the group and supports a 2.6x '16E multiple; updated PT $9 from $10."

Veracyte closed on Thursday at $8.30.

Latest Ratings for VCYT

DateFirmActionFromTo
Jul 2019Initiates Coverage OnBuy
Jul 2019Initiates Coverage OnBuy
Nov 2018DowngradesBuyNeutral

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Posted-In: Morgan Stanley Steve BeuchawAnalyst Color Price Target Analyst Ratings

 

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