Why Guardant Health Topped the Market on Thursday
Guardant Health (NASDAQ: GH) did relatively well on the market Thursday. The cancer-diagnostics company's shares effectively traded sideways on a day when the S&P 500 index flopped by over 1%. Investors were cautiously optimistic about a new analyst take on the stock.
Stephens' Mason Carrico initiated coverage of Guardant Health shares after market hours on Wednesday. Happily for the specialty healthcare company and its stockholders, Carrico is bullish on its prospects -- he's flagged it with an overweight (which means buy) recommendation at a price target of $99 per share. That level is almost 66% higher than the stock's current price.
Carrico considers Guardant to be a leader in the precision-oncology segment, thanks to its differentiated liquid-biopsy cancer-screening products. This should power double-digit growth for the company across the next few years, he believes.
Source Fool.com
