Benchmark upgraded NeoGenomics to Buy from Hold with a $20 price target. The company reported "solid" Q4 results and its reorganization plans looks doable, the analyst tells investors in a research note. The Q4 upside was driven by sales of the RaDaR MRD test through the Pharmaceutical Services business, which bodes well for 2023, contends the firm. It says the new management team is implementing a "credible" performance improvement program that is expected to bring the company to adjusted EBITDA profitability by Q4 of 2023.
Published first on TheFly
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