Morgan Stanley downgraded Akoya Biosciences to Equal Weight from Overweight with a price target of $3, down from $4. Guidance was lowered “again” despite an in-line quarter as a placements rebound falls short of expectations on weak capital spending, the analyst tells investors. While the cash management focus is “encouraging” and the valuation is “undemanding,” patience will be required to unlock upside, the analyst added.
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