Fulgent Genetics upgraded to Buy from Neutral at UBS

UBS upgraded Fulgent Genetics (FLGT) to Buy from Neutral with a price target of $30, up from $20, after assuming coverage of the name. The firm sees potential for upside in the company’s Precision Diagnostics unit, which represents 60% of total sales, due to share gain opportunities and a more favorable reimbursement landscape. In addition, Fulgent’s Anatomic Pathology segment has started to recover and is no longer dilutive to growth, the analyst tells investors in a research note. UBS sees the company sustaining 10% revenue growth in 2025 and beyond.