Piper Sandler Maintains Neutral on Pacific Biosciences, Lowers Price Target to $2
Portfolio Pulse from Benzinga Newsdesk
Piper Sandler analyst David Westenberg has maintained a Neutral rating on Pacific Biosciences (PACB) and lowered the price target from $6.5 to $2.
May 13, 2024 | 12:57 pm
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Piper Sandler's adjustment of Pacific Biosciences' price target from $6.5 to $2, while maintaining a Neutral rating, could influence investor sentiment and potentially impact PACB's stock price negatively in the short term due to reduced confidence in the company's near-term growth prospects.
Price target adjustments are significant indicators of an analyst's view on the company's future performance. A substantial decrease in the price target, such as from $6.5 to $2, without a change in the overall rating, suggests that the analyst sees limited upside potential or increased risk factors that could deter the stock's performance. This action by a reputable analyst could lead to negative investor sentiment and a decrease in stock price in the short term.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100