UPDATE: Morgan Stanley Downgrades Berkeley Lights (BLI) to Underweight

August 10, 2022 9:20 AM EDT
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Price: $2.86 -1.38%

Rating Summary:
    2 Buy, 5 Hold, 1 Sell

Rating Trend: Down Down

Today's Overall Ratings:
    Up: 10 | Down: 4 | New: 31
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(Updated - August 10, 2022 9:20 AM EDT)

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."

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

Shares of Berkeley Lights closed at $4.97 yesterday.

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