TD Cowen analyst Dan Brennan lowered the firm’s price target on 10x Genomics (TXG) to $11 from $15 and keeps a Hold rating on the shares. The weak, uncertain outlook for U.S. A&G customers that account for 40%-50% of sales led management to pull annual guidance, but the “good news” is that 10x Genomics is aggressively cutting costs, the analyst tells investors in a post-earnings note.
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