Personalis price target lowered to $7 from $8 at Lake Street

Lake Street analyst Thomas Flaten lowered the firm’s price target on Personalis (PSNL) to $7 from $8 and keeps a Buy rating on the shares after the company reported Q3 revenues “well above” the firm’s estimate and consensus and the company also raised 2024 revenue guidance. The firm is adjusting its price target to account for additional shares issued during the quarter, but tells investors the Personalis story is “still in the early innings and we expect 2025 to be a transformative year.”