Natera price target raised, named a best idea for 2024 at TD Cowen

TD Cowen raised the firm’s price target on Natera to $87 from $82 and keeps an Outperform rating on the shares, which the analyst named a “best idea for 2024.” Diligence on the MRD and broader liquid biopsy market provides “fundamental support” to the firm’s 2024 model, which reflects 20%-plus sales growth along with material gross margin improvement, while “numerous organic upside levers plus distinct catalysts” can drive greater than 30% upside to 2026 sales forecasts, the analyst tells investors.