Morgan Stanley analyst Tejas Savant lowered the firm’s price target on 10x Genomics (TXG) to $18 from $26 and keeps an Overweight rating on the shares. Consumables offset instrument softness in Q1, notes the analyst, who calls signs of Chromium elasticity and the Bruker (BRKR) settlement “encouraging.” FY25 guidance was withdrawn on limited visibility, but the valuation pullback “more than reflects muted visibility,” the analyst contends.
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Read More on TXG:
- 10x Genomics: Buy Rating Affirmed Amid Consumable Growth and Legal Resolutions
- Hold Rating Maintained for 10x Genomics Amid Settlement Gains and Macroeconomic Challenges
- 10x Genomics Settles Litigation with Bruker Corporation
- 10x Genomics announces patent litigation settlement with Bruker
- Bruker, 10x Genomics reach final settlement to resolve patent disputes
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