Myriad Genetics price target lowered to $10 from $19 at Raymond James

Raymond James lowered the firm’s price target on Myriad Genetics (MYGN) to $10 from $19 and keeps an Outperform rating on the shares. Myriad reported a “somewhat soft” top-line result in Q1, but cut its revenue guidance by 4% as new CEO Sam Raha takes the helm, the analyst tells investors in a research note. There was also a clear willingness to reassess the portfolio, with oncology deemed central to the franchise, implying portfolio rationalization, most likely of GeneSight, is on the table, the firm says.