Raymond James Upgrades Natera & Myriad Genetics, While Downgrading This Stock

Raymond James upgraded Natera Inc NTRA to Outperform from Market Perform and a price target of $58 on a catalyst-rich setup for 2023 across segments, but most interestingly, in the molecular residual disease arena. The analyst expects additional coverage and potential guideline inclusion, at least for colorectal cancer, with women's health having its catalysts.
The analyst also upgraded Myriad Genetics Inc MYGN to Outperform from Market Perform and a price target of $25.
Raymond James writes that 2023 would be the year when Myriad can finally show a steadier trajectory approaching the double-digit top-line goal while materially progressing key products. At these levels, the analyst notes that Myriad doesn’t need home runs but can outperform with singles and doubles.
Raymond James downgraded Veracyte Inc VCYT to Market Perform from Outperform based on the business strengths reflected in the existing multiple. But it also wonders if Decipher franchise can outperform any longer on tougher comps and the law of large numbers.
Price Action: NTRA shares are up 3.68% at $41.47, and MYGN shares are up 4.74% at $19.44 on the last check Wednesday.

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