NeoGenomics upgraded to Buy from Hold at Benchmark

Benchmark upgraded NeoGenomics (NEO) to Buy from Hold with an $11 price target after the company reported better than expected revenue and in-line earnings and said it continues to plan for an improvement in adjusted EBITDA during the second half as margins expand from the launch of new, high-value NGS products for therapy selection and Molecular Residual Disease testing. The multiple could expand further if the company continues to execute on its plan, the analyst tells investors.