Exact Sciences price target lowered to $55 from $65 at Barclays

Barclays analyst Luke Sergott lowered the firm’s price target on Exact Sciences (EXAS) to $55 from $65 and keeps an Overweight rating on the shares as part of a Q1 earnings preview for life science tools and diagnostics group. Tools are still defensive, but less so than in the past given the threat of the pharma-specific tariffs potentially causing another round of budget cuts, the analyst tells investors in a research note. Barclays also downgraded the contract research organizations on lower visibility.