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Fly News Breaks for May 9, 2019
GHDX
May 9, 2019 | 09:09 EDT
Needham analyst Stephen Unger lowered his price target on Genomic Health to $69 but sees the 11.6% stock price decline yesterday in spite of the "strong" Q1 earnings as surprising. The analyst attributes the revised price target to a change in his model to use a "full tax rate" of 18% in his FY20 estimates, also lowering his EPS outlook to $1.60 from $1.86, but keeps his Strong Buy rating on the shares. Unger recommends that investors take advantage of the buying opportunity given the company's solid commercial execution in both U.S. and International markets.
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