AbCellera price target lowered to $5 from $7 at KeyBanc

KeyBanc lowered the firm’s price target on AbCellera to $5 from $7 and keeps an Overweight rating on the shares. The firm’s credit card data continues to show healthy utilization levels across hospital systems post the Change Healthcare outage, with hospital customer levels up high single digits in May and June year over year, but the ongoing robust employment data for healthcare systems keeps the firm wary of potential spending for hospital-exposed names, the analyst tells investors in a research note.