UBS Maintains a 'Neutral' on Affymetrix (AFFX); Cutting PT as Risk Begins Building

UBS maintains a 'Neutral' on Affymetrix (NASDAQ: AFFX) price target of $4.25 (from $4.75).

Analyst, Daniel Arias, said, "While the company is making strides towards reducing the impact of a lagging discovery business via cytogenetics penetration, we see continued risk to microarray sales as competition within the array market remains stiff, while sequencing system placements ramp & new instruments enter the market in 2H12. Furthermore, we remain cautious on eBioscience’s academic end-market exposure (70%) and litigation risk. As such, we see shares as range-bound in the near term."

For an analyst ratings summary and ratings history on Affymetrix click here. For more ratings news on Affymetrix click here.

Shares of Affymetrix closed at $3.91 yesterday.

---

Serious News for Serious Traders! Try StreetInsider.com Premium Free!

---

You May Also Be Interested In

• Fiserv (FISV) PT Lowered to $60 at Freedom Broker
• BofA Securities Resumes American Eagle Outfitters (AEO) at Underperform
• Travel Food Services (TRAVELFO:IN) PT Raised to INR1,600 at ICICI Securities