Seer price target lowered to $3 from $7 at Morgan Stanley

Morgan Stanley lowered the firm’s price target on Seer to $3 from $7 and keeps an Equal Weight rating on the shares. Seer’s Q2 was slightly below Street expectations as elongated sales cycles and capex budget pressure continue to persist, and 2024 guidance was lowered to reflect a weaker second half outlook, the analyst tells investors in a research note.