Ginkgo Bioworks price target raised to $10 from $3 at TD Cowen

TD Cowen analyst Brendan Smith raised the firm’s price target on Ginkgo Bioworks to $10 from $3 and keeps a Buy rating on the shares. The launch of Ginkgo’s third new artificial intelligence asset is “another encouraging sign” the company is executing on its push to build out its AI infrastructure and expand its tools service franchise, the analyst tells investors in a research note. The firm says the newest product, Ginkgo Datapoints, is effectively a next-generation version of Ginkgo’s lab data as a service offering and includes a suite of products that provide high-quality datasets to make bio-based foundational model training more accessible.