AbCellera price target lowered to $10 from $12 at Stifel

Stifel lowered the firm’s price target on AbCellera (ABCL) to $10 from $12 and keeps a Buy rating on the shares. The firm believes FY25 “marks an important inflection point” as the company completes the transition from a discovery-focused partner to a fully-integrated drug development company, the analyst tells investors. The firm’s updated estimates mostly reflect reduced partnership-derived revenue and revised financing assumptions, the analyst noted.