Morgan Stanley raised the firm’s price target on Grail (GRAL) to $85 from $38 and keeps an Equal Weight rating on the shares. The firm updated the company’s estimates post the Q3 report. It cites Grail’s longer-term opportunity with Galleri for the target increase. The multi-cancer early detection test has significant long-term potential, but there are also inherent risks associated with novel technologies, the analyst tells investors in a research note.
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