Oppenheimer analyst Kevin DeGeeter started Invitae with an Outperform rating and $20 price target. The analyst views Invitae as benefiting from several trends driving growth for the genetic testing sector, including declining cost of goods and price for genetic testing, growing consumer demand for genetic information at key healthcare inflection point, and growing power of consumer brand as a tool to capture share of the rapidly growing cash-pay segment. Further, DeGeeter believes Invitae is the only company truly positioned to benefit from these trends due to management's focus on competing on cost of goods and price, expanding breadth of test menu and access to capital to fund DTC advertising.