Citi downgraded 10x Genomics (TXG) to Neutral from Buy with an unchanged price target of $18. The firm adjusted ratings in the life science tools and diagnostics group as part of its 2026 outlook. Citi cites cautious customer spending in 10x’s academic and government end markets, an uncertain biotech recovery timing, ramping competition, and a balanced risk/reward post the recent rally for the downgrade.
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