Wells Fargo upgrades CareDx to Equal Weight on improved risk/reward

As previously reported, Wells Fargo analyst Brandon Couillard upgraded CareDx (CDNA) to Equal Weight from Underweight with a price target of $24, down from $28. With shares down about 30% since late August, the firm sees a more balanced risk/reward setup with relative valuation now at a wide discount to peers, despite similar gross margin and low/mid-teens growth outlooks through 2026.