BUZZ-Street View: Brokerages downgrade Exact Sciences following acquisition by Abbott
Exact Sciences is being acquired by Abbott Laboratories in a $23 billion deal. Brokerages have downgraded Exact Sciences' stock, with a median price target of $85 and an average rating of "hold." The stock is trading near the acquisition price, limiting upside potential. The acquisition is seen as bullish for the diagnostics sector, with the deal expected to close in Q2 2026.
Cancer test maker Exact Sciences (EXAS.O) said on Thursday medical device maker Abbott Laboratories (ABT.N) will acquire the company in a $23 billion deal
At least five brokerages downgrade the stock
Median PT of 23 analysts covering stock is $85; average rating is “hold” - data compiled by LSEG
EXAS SHARES NEAR TAKEOUT PRICE
Barclays (“equal weight,” PT: $105) says it no longer sees big upside as stock is now priced close to what Abbott Laboratories might pay in the acquisition
Citigroup (“neutral,” PT: $105) sees limited upside as the stock is nearing the $105 deal price and is raising their target price to match
Leerink Partners (“market perform,” PT: $105) says the deal marks the first time a central lab or single-site testing company is being bought by a diversified healthcare player, which is bullish for EXAS and the broader diagnostics sector
Wells Fargo (“equal weight,” PT: $105) says the company is expected to close the deal in the second quarter in 2026 and downgrades the stock since it is now trading near the takeout price
