Morgan Stanley lowered the firm’s price target on Cytek Biosciences (CTKB) to $7 from $9 and keeps an Equal Weight rating on the shares. After adjusting estimates to reflect Q1 results and commentary from the call, the firm’s 2025 revenue estimate is lowered to $199M from $207M while its 2026 revenue estimate declines to $223M from $229M. While the valuation is “undemanding,” the firm sees limited upside until the macro backdrop improves, the analyst added.
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