Canaccord lowered the firm’s price target on 10x Genomics to $20 from $32 and keeps a Buy rating on the shares. The target decrease is driven by “significantly reduced” near- and long-term revenue estimates, although current share levels “offer a solid entry point for longer-term investors,” the analyst tells investors in a research note. The firm says 10x last night reported preliminary Q3 results that were well below its estimates. It says the company’s performance in recent years has been disappointing.
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