Canaccord lowered the firm’s price target on 10x Genomics to $65 from $70 and keeps a Buy rating on the shares. The company’s growth outlook for 2024 “appears to be materially softer” than estimated, although the initial guidance is relatively conservative, the analyst tells investors in a research note. The firm says 10x Genomics is nicely positioned to revise the range upward throughout 2024.
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Read More on TXG:
- 10x Genomics Reports Fourth Quarter and Full Year 2023 Financial Results and Provides Outlook for 2024
- Canaccord still bullish on 10x Genomics, PacBio despite reducing 2024 estimates
- 10x Genomics price target lowered to $60 from $65 at Deutsche Bank
- 10x Genomics price target raised to $55 from $45 at Barclays
- 10x Genomics’s preliminary Q4 results ahead of Street estimates, says Canaccord
