Neogen price target lowered to $10 from $13 at Guggenheim

Guggenheim lowered the firm’s price target on Neogen (NEOG) to $10 from $13 and keeps a Buy rating on the shares. The firm’s updated model includes a pro forma outlook of Neogen assuming current divestiture plans are finalized, as well as management’s recent commentary on higher-than-anticipated inventory write-offs, which extends through 2026, the analyst tells investors in a research note.