In a report released today, Daniel Brennan from TD Cowen maintained a Buy rating on Exact Sciences (EXAS – Research Report), with a price target of $86.00.
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Daniel Brennan’s rating is based on a combination of factors that highlight the potential for growth in Exact Sciences. The company’s management appears to be conservative, but there are several positive indicators such as the pricing of CG Plus, a stronger salesforce, and upcoming new product launches that suggest a potential for sales to exceed expectations by at least 3%. Despite initial challenges, such as a weaker first-quarter sales guide due to seasonal factors and CareGap issues, the overall outlook for 2025 remains promising.
Furthermore, the company’s focus on Cologuard’s momentum into 2025 and the anticipated benefits from Cologuard blood data support Brennan’s optimism. Although the stock has underperformed recently, Brennan sees the year as more favorable in the second half, with a 13% year-over-year growth in Cologuard sales projected. This, combined with the possibility of EBITDA exceeding expectations and the introduction of new products, underpins the Buy rating for Exact Sciences.
In another report released today, Piper Sandler also maintained a Buy rating on the stock with a $75.00 price target.