Street View: Brokerages downgrade Exact Sciences following acquisition by Abbott
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
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