AbCellera price target lowered to $17 from $21 at Stifel

Stifel lowered the firm’s price target on AbCellera to $17 from $21 and keeps a Buy rating on the shares. ABCL575 and ABCL635, the company’s first two preclinical programs in its internal pipeline, both have potential, but the prospects of these FY25 Investigational New Drug filings is unlikely to impact near-term value, the analyst tells investors. The potential monetization of the TCE platform, on the other hand, could prove to be an important catalyst in FY24, potentially providing strategic validation and a valuation benchmark, the firm adds.