10x Genomics price target lowered to $15 from $18 at Stifel

Stifel lowered the firm’s price target on 10x Genomics (TXG) to $15 from $18 and keeps a Buy rating on the shares after Q1 had “solid consumables but lower instrument sales.” 10X also suspended the outlook for the year in light of the lack of visibility for U.S. academic customers due to NIH funding concerns, notes the analyst, who says the stock “sits at the center of the conversation on academic spending declines and the ability to drive elasticity, but also one that at about $9 looks as though it has the worst priced in.”