Baird raised the firm’s price target on Twist Bioscience to $46 from $40 and keeps an Outperform rating on the shares. The firm said they reported a FY3Q revenue beat, with synbio and NGS both ahead of guidance and the firm’s model. They believe the pullback is the combination of elevated expectations into the quarter, order lumpiness, and an expected QQ decrease in synbio for FY4Q.
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