In a report released today, Puneet Souda from Leerink Partners maintained a Buy rating on Guardant Health, with a price target of $155.00.
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Puneet Souda has given his Buy rating due to a combination of factors that highlight Guardant Health’s strong growth potential and market positioning. The company has demonstrated impressive performance, particularly with its G360 assay, which continues to grow significantly even a decade after its launch. Additionally, the Reveal MRD and Shield screening assays are rapidly gaining traction in large, underpenetrated markets, offering substantial revenue growth opportunities.
Souda’s analysis indicates a favorable risk-reward profile for Guardant Health, with the potential for significant upside in stock price under various scenarios. The company’s valuation suggests considerable upside potential, with price targets indicating a substantial increase from current levels. Furthermore, the potential for additional revenue from the Shield MCD test, if monetized separately, adds to the growth prospects, reinforcing the Buy rating.
Souda covers the Healthcare sector, focusing on stocks such as Guardant Health, Exact Sciences, and NeoGenomics. According to TipRanks, Souda has an average return of 2.5% and a 45.45% success rate on recommended stocks.
In another report released today, Wells Fargo also maintained a Buy rating on the stock with a $120.00 price target.