Harvard Bioscience price target lowered to $3 from $4.50 at Benchmark

Benchmark lowered the firm’s price target on Harvard Bioscience (HBIO) to $3 from $4.50 and keeps a Speculative Buy rating on the shares. The outlook for end-user markets in biomedical research continues to be challenging due to uncertainty around China tariffs, NIH funding, and biopharmaceutical research activity, which leads the firm to lower its 2025 revenue estimate as a result. However, despite the near-term uncertainty, management remains optimistic about the 2025 prospects for newly launched products, says the analyst, who believes shares could experience multiple expansion if the company continues to execute its plan to grow the business organically, increase cash flow, and pay down debt.