Canaccord Genuity Maintains Buy on Pacific Biosciences, Lowers Price Target to $10
Portfolio Pulse from Benzinga Newsdesk
Canaccord Genuity analyst Kyle Mikson maintains a Buy rating on Pacific Biosciences (PACB) but lowers the price target from $14 to $10.
March 22, 2024 | 10:26 am
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Canaccord Genuity maintains a Buy rating on Pacific Biosciences but lowers the price target from $14 to $10.
While the maintenance of a Buy rating by Canaccord Genuity suggests continued confidence in Pacific Biosciences' long-term prospects, the reduction in the price target from $14 to $10 could indicate concerns about near-term challenges or valuation adjustments. This mixed signal might lead to short-term market uncertainty for PACB, but the overall positive stance could mitigate significant negative impact.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100