Cowen Upgrades Myriad Genetics (MYGN) to Outperform

Cowen analyst Doug Schenkel upgraded Myriad Genetics (NASDAQ: MYGN) from Market Perform to Outperform with a price target of $37.00 (from $40.00).

The analyst comments "MYGN shares are trading at a discount to major reference labs and valued at a FCF multiple that seemingly assumes the company’s growth prospects are nil. In our base case, we see a path to LSD-MSD growth supporting multiple expansion and 15-20% upside from current levels without broader GeneSight reimbursement (if that happens, upside is much more material). The risk/reward is attractive."

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 $29.29 yesterday.

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