UBS Upgrades Pacific Biosciences to Buy, Lowers Price Target to $10
Portfolio Pulse from Benzinga Newsdesk
UBS analyst John Sourbeer has upgraded Pacific Biosciences (NASDAQ:PACB) from Neutral to Buy, while also lowering the price target from $13 to $10.
November 17, 2023 | 12:19 pm
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Pacific Biosciences was upgraded by UBS from Neutral to Buy, although the price target was reduced from $13 to $10.
The upgrade to Buy suggests that UBS sees upside potential in Pacific Biosciences' stock, which could lead to increased investor interest and a potential short-term rise in the stock price. However, the reduction in the price target to $10 indicates a tempered valuation, which may slightly counterbalance the positive impact of the upgrade.
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