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Investing.com - Mizuho raised its price target on Guardant Health (NASDAQ:GH) to $70.00 from $65.00 on Thursday, while maintaining an Outperform rating on the stock. The company has shown remarkable momentum, with a 158.61% return over the past year according to InvestingPro data.
The price target increase follows Guardant Health’s updated 2028 sales guidance of $2.2 billion, up from its previous forecast of $2.0 billion, announced during the company’s Investor Day on Wednesday. The new guidance exceeds current Street expectations of $1.7 billion. This ambitious target builds on the company’s strong revenue growth of 28.74% over the last twelve months.
Guardant Health reiterated its projection that its Shield product will generate over $500 million in sales by 2028, consistent with guidance provided at its 2023 Investor Day. The company did reduce its implied volume forecast to approximately 715,000 in 2028, down from the previous estimate of about 1 million.
Mizuho noted that despite an adverse stock reaction to the volume guidance reduction, it views the United States Preventive Services Task Force (USPSTF) guideline delay as an expected headwind. The firm considers the Shield ramp as believable, with potential upside in both volumes and average selling price.
The research firm also highlighted that Guardant Health raised its sales and profitability guidance for its non-Shield business, demonstrating the company’s ability to leverage its Smart Liquid Biopsy platform while growing in therapy selection and residual disease markets. With a healthy current ratio of 3.71 and analyst targets ranging from $47 to $80, detailed analysis and additional insights are available in the comprehensive InvestingPro Research Report.
In other recent news, Guardant Health has captured attention with several notable updates following its Investor Day. The company announced an ambitious update to its long-range revenue plan, increasing its 2028 target to $2.2 billion from a previous $2 billion. This development led to multiple analyst firms adjusting their outlooks. Leerink Partners raised its price target for Guardant Health to $75, while BTIG increased its target to $80, noting the company’s improved average selling price assumptions. Stifel also raised its price target to $70, acknowledging Guardant’s portfolio expansion and upcoming product launches. Wolfe Research upgraded its rating for Guardant Health from Peerperform to Outperform, setting a price target of $75. Canaccord Genuity maintained its Buy rating with a price target of $65, following Guardant Health’s presentation of its technology strategy, including plans to incorporate artificial intelligence. These developments reflect a growing confidence in Guardant Health’s future performance among analysts.
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