UPDATE: Morgan Stanley Downgrades Berkeley Lights (BLI) to Underweight
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Morgan Stanley analyst Tejas Savant downgraded Berkeley Lights (NASDAQ: BLI) from Equalweight to Underweight with a price target of $5.00 (from $10.00).
The analyst comments "We view BLI's portfolio restructuring as a necessary & positive first step, but with these initiatives only recently in place and time needed to see how demand trends play out for new lower-priced instruments, lack of quarterly visibility limits the odds of NTM outperformance vs. our coverage."
Shares of Berkeley Lights closed at $4.97 yesterday.
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