Citi analyst Patrick Donnelly raised the price target on Guardant Health (NASDAQ: GH) to $60.00 (from $45.00) while maintaining a Buy rating.

The analyst comments "GH reported revenue of $201mn inline with the pre-announced ~$200mn. Clinical volumes (ex-Shield) were ~57.3k (+24% Y/Y growth) and biopharma volumes were ~11k (+16% Y/Y growth), both inline with the preannouncement. Management also provided Shield insights as it generated ~$4.1mn with ~6.4k volume. In 4Q, Precision Oncology revenue of $184mn was driven by volume growth and continued G360 strength. Looking ahead, GH guided FY25 revs between $850-860mn slightly above cons $846mn, which includes Shield revenue of $25-30mn vs. VA consensus ~$23.3mn and contemplates 45-50k tests (volumes and revs more 2H weighted). Other parts of guide include ($225) -($235mn) in cash burn and $815-825mn in opex. We update our model, maintain our Buy/High-Risk rating, and increase our TP to $60 from $45 as we increase our revenue estimates."