Guardant Health Gets Outperform Rating and $129 Target as Investors Rebalance
Raymond James raised Guardant Health’s rating to Outperform and bumped its price target from $115 to $129 as the stock hovered around $101.49. Granite Investment slashed its stake by 52.1% to $11.6M, while Norges Bank added $64.1M and Franklin Resources lifted its position by 78.2% to $120.7M.
1. Analyst Upgrade to Outperform
On February 23, Raymond James upgraded Guardant Health to an Outperform rating and raised the price target from $115 to $129 after the shares traded near $101.49, reflecting confidence in its precision oncology tests.
2. Granite Investment Stakes Cut
Granite Investment Partners cut its stake by 52.1%, reducing holdings to 185,301 shares valued at $11.6 million and representing just 0.15% of Guardant Health’s outstanding shares.
3. Institutions Increase Positions
Norges Bank opened a new $64.1 million position in the second quarter, Franklin Resources boosted its holdings by 78.2% to 2.32 million shares valued at $120.7 million, and Invesco lifted its stake by 27.3%.