Twist Bioscience price target raised to $58 from $52 at Barclays

Barclays analyst Luke Sergott raised the firm’s price target on Twist Bioscience (TWST) to $58 from $52 and keeps an Overweight rating on the shares. Management continues to find ways to keep the momentum going in the business, though the beat and raise is not being reward as shares are down roughly 5%, the analyst tells investors in a research note. While the firm thinks most of this sell-off is on macro/factor moves, it suspects that some of the weakness is driven by the fact that the revenue beat came in a touch lighter than the usual beat, plus some profit taking on the thesis is that valuation is getting close to the high end of the historical range.