Quantum-Si price target lowered to $1 from $1.50 at Canaccord

Canaccord lowered the firm’s price target on Quantum-Si (QSI) to $1 from $1.50 and keeps a Hold rating on the shares after Q3 earnings. Placements of QSI’s Platinum protein sequencer were modestly below the firm’s expectations, but the company remains confident it can drive consistent expansion in adoption levels over time. Canaccord added that the valuation upside will be “limited” until Quantum-Si drives higher levels of adoption over time.