TD Cowen downgraded Cytek Biosciences (CTKB) to Hold from Buy with a price target of $4, down from $7. The company’s Q1 missed as multiple headwinds persist and the fiscal 2025 guidance was lowered, the analyst tells investors in a research note. The firm says that while Cytek remains a dominant flow cytometry player, it would stay on the sidelines pending better clarity on a path back to sustained growth.
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Read More on CTKB:
- Cytek Biosciences Faces Revenue Challenges and Market Uncertainty, Downgraded to Hold
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- Cytek Biosciences cuts FY25 revenue view to $196M-$210M from $204M-$212M
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