Jefferies downgraded Exact Sciences (EXAS) to Hold from Buy with a price target of $105, up from $90, citing the pending acquisition by Abbott (ABT). The firm thinks the takeover premium represents a win for Exact Sciences and does not expect another bidder to come over the top given precedent deal multiples.
Claim 30% Off TipRanks
- Unlock hedge fund-level data and powerful investing tools for smarter, sharper decisions
- Discover top-performing stock ideas and upgrade to a portfolio of market leaders with Smart Investor Picks
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on EXAS:
- Exact Sciences Downgraded to Hold Amid ABT Acquisition and Market Uncertainties
- Cathie Wood Loads Up on CoreWeave (CRWV), and Crypto Stocks; Trims Stakes in GitLab, AMD, and Other Tech Stocks
- Nasdaq, IonQ, Opko, Exact, Palo Alto: Trending by Analysts
- Cathie Wood Buys Nvidia, ACHR and Crypto Stocks, Offloads AMD, EXAS
- Exact Sciences downgraded to Hold from Buy at Craig-Hallum