Barclays analyst Luke Sergott has revised the price target for Exact Sciences (EXAS, Financial), reducing it from $65 to $55 while maintaining an Overweight rating on the stock. This adjustment comes as part of the firm's preparation for the upcoming first-quarter earnings report for the life science tools and diagnostics sector.
According to Sergott, the tools segment remains a defensive space, albeit to a lesser extent than before. This is attributed to potential pharmaceutical-specific tariffs which might trigger further budget reductions in the sector.
In addition to the changes to Exact Sciences, Barclays has also downgraded contract research organizations due to decreased visibility in their operations.
