Alpha Teknova price target lowered to $3.50 from $5.00 at BTIG

BTIG lowered the firm’s price target on Alpha Teknova to $3.50 from $5.00 and keeps a Buy rating on the shares. The Q3 results were roughly in line with the firm’s estimates, but management now expects to come in at the low end of their 2023 guidance, the analyst tells investors in a research note. The company doesn’t know if it has hit “bottom” yet, but indicated it feels like it is at or near a bottom, and has recently been encouraged by order flow, the firm says.