Guardant Health price target lowered to $45 from $50 at Canaccord

Canaccord lowered the firm’s price target on Guardant Health to $45 from $50 and keeps a Buy rating on the shares post the Q4 report. The target decrease is driven by lower base year revenue, given the company’s 2024 guidance, the analyst tells investors in a research note. However, the firm says there may be upside to the initial outlook due to “multiple tailwinds that are not reflected.”