Mizuho analyst Bradley Bowers initiated coverage of Guardant Health (GH) with an Outperform rating and $55 price target The firm is bullish on Guardant given: Smart Liquid Biopsy as a differentiated platform versus tissue-based competition; near-term access to nearly $20B of Precision Oncology total addressable market; positive survey response for Guardant’s Blood-based colorectal cancer test, and; cash flow/profitability expectations with upside from success of aforementioned products. The firm added that its price target is above peers but deserved given near-term inflection points in sales and profitability.
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