TD Cowen analyst Kyle Boucher has maintained their neutral stance on LAB stock, giving a Hold rating on October 29.
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Kyle Boucher has given his Hold rating due to a combination of factors affecting Standard BioTools. The company’s recent financial performance showed a slight decline in year-over-year revenue, despite exceeding consensus expectations. This decline is attributed to ongoing challenges in the macroeconomic environment, particularly affecting academic customers who represent a significant portion of the company’s revenue.
Additionally, while the company has implemented cost-saving measures and restructuring plans, the full impact of these actions is yet to be realized. The anticipated sale of SomaLogic is expected to bolster the company’s cash reserves, but the future outlook remains uncertain without clear M&A developments. Consequently, the Hold rating reflects caution in light of the current economic conditions and the need for further clarity on strategic initiatives.
In another report released on October 29, TR | OpenAI – 4o also reiterated a Hold rating on the stock with a $1.00 price target.