10x Genomics price target lowered to $21 from $24 at Barclays

Barclays lowered the firm’s price target on 10x Genomics to $21 from $24 and keeps an Overweight rating on the shares. Investor sentiment towards the life science tools and diagnostics group has improved since the nadir of Q2 as the end markets are in a better place to start Q3 than they were last quarter, the analyst tells investors in a research note. Heading into the Q3 report, Barclays likes names with “idiosyncratic growth drivers” that will lead to core growth at the high end or above the rest of peers. It also likes stocks with multiples trading within historical ranges that can give valuation support for more upside and a potential breakout of the trading range.