Citi analyst Patrick Donnelly raised the firm’s price target on Exact Sciences to $130 from $100 and keeps a Buy rating on the shares after the company hosted its first analyst day in about 8 years. Investors are primarily focused on the new, mid-term financial targets, including about a 15% compound annual revenue growth rate from FY22-FY27, which the firm views as “prudently conservative.” Exact also anticipates being free cash flow positive in Q2 of 2023, which Citi views “favorably” given that forecast implies “healthy upside” to revenue and adjusted EBITDA estimates for Q2.
Published first on TheFly
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