Goldman Sachs Upgrades Myriad Genetics (MYGN) to Buy

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.

---

Serious News for Serious Traders! Try StreetInsider.com Premium Free!

---

You May Also Be Interested In

• Myriad Genetics (MYGN) PT Lowered to $2.50 at Jefferies
• Wells Fargo Upgrades Portland General Electric Company (POR) to Overweight
• Deutsche Bank Upgrades Target Hospitality (TH) to Buy