Bio-Techne price target lowered to $80 from $100 at Citi

Citi lowered the firm’s price target on Bio-Techne to $80 from $100 and keeps a Buy rating on the shares post the fiscal Q1 report. In primary focus on the earnings call were the moving pieces around the setup for the remainder of fiscal 2024, including a worsening of conditions across biopharma customers later in the quarter, continued China headwinds, and negative impact from the timing of diagnostics and genomics orders, the analyst tells investors in a research note. The firm reduced estimates post the print.