Jefferies upgraded 10x Genomics to Buy from Hold with an unchanged price target of $24. The analyst cites conviction in single cell recovery for the upgrade. The firm sees continued utility in areas such as oncology research and says 10x has superior technology versus competitors. The company has a large customer base of core labs, which limits dependency on NIH funding, and there is upside to 2025 numbers due to a recovery in single cell and new products, the analyst tells investors in a research note.
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