Scotiabank analyst Sung Ji Nam lowered the firm’s price target on PacBio (PACB) to $2 from $6 and keeps an Outperform rating on the shares. The company’s FY24 was disappointing, and this year could have driven significant revenue reacceleration had it not been for near-term U.S. academic funding uncertainty dampening growth, the analyst tells investors. The firm continues to believe the company is well positioned to innovate faster, cheaper, easier, and more insightful NGS capabilities.
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