Ginkgo Bioworks price target raised to $16 from $10 at TD Cowen

TD Cowen analyst Brendan Smith raised the firm’s price target on Ginkgo Bioworks (DNA) to $16 from $10 and keeps a Buy rating on the shares. The firm provided a Q4 preview for the Life Science Tools sector where positive signs related to R&D spend, elongated sales cycles, and inventory de-stocking are likely to fight for attention with concerns over NIH, China, and policy uncertainty.