Barclays lowered the firm’s price target on PacBio (PACB) to $1 from $1.50 and keeps an Underweight rating on the shares. The firm adjusted targets in the life science and diagnostic tools group as part of a Q1 preview. Barclays likes the setup for the sector but says it is “not without risk.” Sentiment is at all-time lows and Barclays still believes in the “last-cut thesis (for the most part),” the analyst tells investors in a research note.
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