Jefferies cuts Exact Sciences to 'hold' after Abbott acquisition

Jefferies downgrades cancer test maker Exact Sciences to "hold" from "buy"; raises PT to $105 from $90, a 4.1% upside on the stock's last close

Brokerage sees limited upside because the stock will likely trade near the deal price following medical device maker Abbott Laboratories' $23 billion deal

Jefferies says the acquisition premium is considered fair and attractive for EXAS shareholders and analysts do not expect another bidder to join the race

The deal is expected to close in the second quarter of 2026

Nine of 23 brokerages rate stock "buy" or higher, 14 "hold"; their median PT is $105 - data compiled by LSEG

As of last close, EXAS stock is up ~79.6 YTD