Ginkgo Bioworks price target lowered to 25c from 80c at BofA

BofA analyst Michael Ryskin lowered the firm’s price target on Ginkgo Bioworks to 25c from 80c and keeps an Underperform rating on the shares. The Life Science Tools recovery took a step back during Q2 as management commentary in recent months has been more cautious, several end-markets have seen incremental softening, and there is increasing worry that the long-anticipated recovery could be delayed yet again, the analyst tells investors in a preview for the Life Sciences & Diagnostic Tools group. Investor attention is starting to turn to 2025 and “there is a growing consensus that next year’s estimates need to be revised down as well, further dampening Tools sentiment,” the analyst added.