Exact Sciences Corp

EXAS: XNAS (USA)

Morningstar Rating for Stocks	Fair Value	Economic Moat	Capital Allocation
	$68.00	Mnd	Jmrftdp

Exact Sciences Announces Strong End to 2022, Including on Profitability Front; Shares Undervalued

Julie Utterback

Jan 9, 2023

Exact Sciences revealed its preliminary sales results for 2022, which appear higher than expected, and it reached profitability on an EBITDA basis in the fourth quarter, which was ahead of schedule. At first glance, we expect to raise our $69 fair value estimate by the mid to high single digits on a percentage basis. However, investors should note that very high uncertainty still surrounds long-term cash flows at this no-moat diagnostic firm.

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