Pacific Biosciences initiated with an Outperform at Scotiabank

Scotiabank analyst Sung Ji Nam last night initiated coverage of Pacific Biosciences with an Outperform rating and $12 price target. The analyst started coverage on nine companies in the life science tools and diagnostics space with a positive view on the sector. With its two new NGS platform launches, Ji Nam believes Pacific Bioscisnces could become a serious contender for taking a significant share of the NGS market over the coming decade, particularly under the helm of its recently assembled and highly experienced management team, the analyst tells investors in a research note.