Barclays analyst Luke Sergott lowered the firm’s price target on 10x Genomics (TXG) to $19 from $21 and keeps an Overweight rating on the shares. The company reported a “tough” quarter driven by a commercial reorganization and soft genomics capex environment, the analyst tells investors in a research note. The firm believes this is the trough of the demand environment and says the reorg should start to kick in modestly as genomics capex demand starts to improve.
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