Abcam upgraded to Buy from Neutral at BofA

BofA analyst Michael Ryskin upgraded Abcam to Buy from Neutral with a $25 price target. The analyst has grown increasingly confident in the company’s ability to meet its “ambitious” mid-term targets. Abcam’s results have “improved markedly” in recent months, making its fiscal 2024 goals “far more achievable,” the analyst tells investors in a research note. In addition, the firm sees the recent emergence of two activists as generating further potential upside.