Jefferies cuts Exact Sciences to 'hold' after Abbott acquisition

** Jefferies downgrades cancer test maker Exact Sciences <EXAS.O> 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' <ABT.N> $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