BofA lowered the firm’s price target on 10x Genomics to $25 from $36 and keeps a Neutral rating on the shares. The Life Science Tools recovery took a step back during Q2 as management commentary in recent months has been more cautious, several end-markets have seen incremental softening, and there is increasing worry that the long-anticipated recovery could be delayed yet again, the analyst tells investors in a preview for the Life Sciences & Diagnostic Tools group. Investor attention is starting to turn to 2025 and “there is a growing consensus that next year’s estimates need to be revised down as well, further dampening Tools sentiment,” the analyst added.
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