TD Cowen initiated coverage of Standard BioTools with a Buy rating and $3.50 price target. The analyst sees “a lot to like” about the company’s new management and strategy. The firm sees positive cash flow for the company in 2026 and 7% adjusted EBITDA margin, supported by SomaLogic cost synergies. It believes the SomaLogic merger will nearly double Standard BioTools’ revenue base and bolster its overall growth outlook. TD estimates SomaLogic can grow over 20% over year beyond 2024.
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