Morgan Stanley analyst Tejas Savant lowered the firm’s price target on 10x Genomics (TXG) to $18 from $26 and keeps an Overweight rating on the shares. Consumables offset instrument softness in Q1, notes the analyst, who calls signs of Chromium elasticity and the Bruker (BRKR) settlement “encouraging.” FY25 guidance was withdrawn on limited visibility, but the valuation pullback “more than reflects muted visibility,” the analyst contends.
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