Morgan Stanley raised the firm’s price target on Veracyte (VCYT) to $28 from $26 and keeps an Underweight rating on the shares following a “decent” Q3 report. FY24 guidance was raised for that beat and an improved Q4 outlook and early color on FY25 was “encouraging,” but the recent run up in the stock implies momentum is baked-in, while meaningful upside from nasal swab, IVD and MRD “will take time,” the analyst tells investors.
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