TD Cowen Maintains Buy on Pacific Biosciences, Lowers Price Target to $2.5
Portfolio Pulse from Benzinga Newsdesk
TD Cowen analyst Daniel Brennan maintains a Buy rating on Pacific Biosciences (PACB) but lowers the price target from $12 to $2.5.

April 17, 2024 | 3:09 pm
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NEGATIVE IMPACT
TD Cowen maintains a Buy rating on Pacific Biosciences but significantly reduces the price target from $12 to $2.5.
The substantial reduction in price target by TD Cowen, despite maintaining a Buy rating, could lead to negative investor sentiment in the short term. This significant adjustment suggests a reassessment of the company's future growth prospects or market conditions, potentially impacting the stock's performance negatively.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 100