Scotiabank Maintains Sector Outperform on Bionano Genomics, Lowers Price Target to $6
Portfolio Pulse from Benzinga Newsdesk
Scotiabank analyst Sung Ji Nam maintains a Sector Outperform rating on Bionano Genomics (NASDAQ:BNGO) but lowers the price target from $7 to $6.

March 07, 2024 | 1:43 pm
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NEUTRAL IMPACT
Scotiabank maintains a Sector Outperform rating on Bionano Genomics but lowers the price target from $7 to $6.
While the reduction in price target from $7 to $6 by Scotiabank could be seen as a negative signal, the maintenance of a Sector Outperform rating suggests continued confidence in Bionano Genomics' potential. This mixed signal might lead to a neutral short-term impact on BNGO's stock price as investors weigh the lowered price target against the reaffirmed positive outlook.
CONFIDENCE 90
IMPORTANCE 75
RELEVANCE 100