BTIG raised the firm’s price target on Ginkgo Bioworks (DNA) to $9 from $6 but keeps a Sell rating on the shares. The firm cites the company’s “significant’ Q2 topline beat as it was able to take out costs faster than expected, the analyst tells investors in a research note. BTIG notes however that while Ginkgo reiterated that reaching adjusted EBITDA breakeven by 2026-end is its number one goal, it will be a “close one” if Ginkgo can hit its EBITDA positivity target given the lack of visibility on the growth outlook of the business in 2026.
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