Goldman Sachs Upgrades Myriad Genetics (MYGN) to Buy

July 2, 2012 7:30 AM EDT
Get Alerts MYGN Hot Sheet
Price: $15.81 -3.18%

Rating Summary:
    6 Buy, 16 Hold, 7 Sell

Rating Trend: = Flat

Today's Overall Ratings:
    Up: 35 | Down: 31 | New: 11
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Goldman Sachs upgraded Myriad Genetics (NASDAQ: MYGN) from Neutral to Buy with a price target of $29.00 (from $27.00).

The firm cited: (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.

For an analyst ratings summary and ratings history on Myriad Genetics click here. For more ratings news on Myriad Genetics click here.

Shares of Myriad Genetics closed at $23.77 yesterday.

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