Scotiabank Maintains Sector Outperform on Pacific Biosciences, Lowers Price Target to $8
Portfolio Pulse from Benzinga Newsdesk
Scotiabank analyst Sung Ji Nam maintains a Sector Outperform rating on Pacific Biosciences (PACB) but lowers the price target from $15 to $8.
April 18, 2024 | 11:22 am
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Scotiabank maintains a Sector Outperform rating on Pacific Biosciences but lowers the price target from $15 to $8.
While the maintenance of a Sector Outperform rating by Scotiabank indicates a positive outlook on Pacific Biosciences, the reduction in the price target from $15 to $8 could signal a reassessment of the company's near-term growth prospects or market conditions. This mixed signal might lead to short-term uncertainty among investors, potentially stabilizing the stock price as the market digests both the reaffirmed confidence and the lowered expectations.
CONFIDENCE 90
IMPORTANCE 75
RELEVANCE 100