UPDATE: Jefferies Assumes Coverage on Myriad Genetics, Downgrades to Hold Ahead of SCOTUS Decision

In a report published Friday, Jefferies analyst Brandon Couillard assumed coverage on Myriad Genetics (NASDAQ: MYGN), downgraded the rating from Buy to Hold, but reiterated the $31.00 price target.

In the report, Jefferies noted, “MYGN continues to present an attractive organic revenue growth & capital redeployment story; however, with the shares up >20% since initial oral arguments at the US Supreme Court in mid-April, we view the risk / reward set-up as balanced ahead of the court's final ruling (expected in late-June). As such, we assume coverage of MYGN at Hold / $31 price target.”

Myriad Genetics closed on Thursday at $32.17.