Stock Track | Pacific Biosciences Plunges as Scotiabank Trims Price Target

Stock Track2024-11-11

Shares of Pacific Biosciences of California (PACB) plummeted by 5.43% on Friday, November 11, 2024, after Scotiabank lowered its price target on the stock from $7 to $6, despite maintaining an Outperform rating.

The price target reduction by Scotiabank analysts reflects a more conservative outlook on the company's future prospects, despite still expecting the stock to outperform the broader market. Lowering the price target typically signals that analysts have a less favorable view of the company's growth potential, which can negatively impact investor sentiment and lead to selling pressure.

While an Outperform rating indicates that Scotiabank believes PACB's stock will perform better than the overall market, the lower price target suggests a more limited upside potential than previously estimated. This likely caused some investors to reevaluate their positions or expectations for the stock, resulting in the significant drop in PACB's share price on Friday.

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Comments

We need your insight to fill this gap

Leave a comment

{"i18n":{"language":"en_US"},"isChannel":false,"data":{"share":"https://ttm.financial/m/news/1177178113?lang=en_US&edition=fundamental","thumbnail":"","is_english":true,"pubTime":"2024-11-11 22:38","share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","id":"1177178113","market":"us","top_or_hot":-1,"title":"Stock Track | Pacific Biosciences Plunges as Scotiabank Trims Price Target","media":"Stock Track","content":"<p>Shares of Pacific Biosciences of California (PACB) plummeted by 5.43% on Friday, November 11, 2024, after Scotiabank lowered its price target on the stock from $7 to $6, despite maintaining an Outperform rating.</p>\n\n<p>The price target reduction by Scotiabank analysts reflects a more conservative outlook on the company's future prospects, despite still expecting the stock to outperform the broader market. Lowering the price target typically signals that analysts have a less favorable view of the company's growth potential, which can negatively impact investor sentiment and lead to selling pressure.</p>\n\n<p>While an Outperform rating indicates that Scotiabank believes PACB's stock will perform better than the overall market, the lower price target suggests a more limited upside potential than previously estimated. This likely caused some investors to reevaluate their positions or expectations for the stock, resulting in the significant drop in PACB's share price on Friday.</p>","source":"ai_movement_en","html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Stock Track | Pacific Biosciences Plunges as Scotiabank Trims Price Target</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nStock Track | Pacific Biosciences Plunges as Scotiabank Trims Price Target\n</h2>\n\n<h4 class=\"meta\">\n\n2024-11-11 22:38 北京时间&nbsp;&nbsp;&nbsp;<strong>Stock Track</strong>\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Shares of Pacific Biosciences of California (PACB) plummeted by 5.43% on Friday, November 11, 2024, after Scotiabank lowered its price target on the stock from $7 to $6, despite maintaining an ...</p>\n\n<a href=\"\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"PACB","symbol_name":"Pacific Biosciences of Californi","start_time":0,"source_url":"","article_id":"1177178113","we_media_id":"1086803395","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=1177178113","pubTimestamp":1731335910,"columns":[],"sourceInfo":{"source_id":"ai_movement_en","name":"Stock Track"},"weMediaInfo":{"media_name":"Stock Track","introduction":"Track stock‘s movements and relevant news","home_visible":1,"id":"1086803395","head_image":"https://static.tigerbbs.com/a81accab1e7ee4144dc051f71903a390"},"summary":"Shares of Pacific Biosciences of California  plummeted by 5.43% on Friday, November 11, 2024, after Scotiabank lowered its price target on the stock from $7 to $6, despite maintaining an Outperform rating.The price target reduction by Scotiabank analysts reflects a more conservative outlook on the company's future prospects, despite still expecting the stock to outperform the broader market. Lowering the price target typically signals that analysts have a less favorable view of the company's gro","collect":0,"end_time":0,"defaultTopTitle":"","property":[],"viewcount":null,"language":"en","relate_stocks":{"PACB":"Pacific Biosciences of Californi"},"translate_title":"丰业银行下调目标价，太平洋生物科学公司股价暴跌","themeId":"","isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"PACB":1},"content_text":"Shares of Pacific Biosciences of California (PACB) plummeted by 5.43% on Friday, November 11, 2024, after Scotiabank lowered its price target on the stock from $7 to $6, despite maintaining an Outperform rating.\nThe price target reduction by Scotiabank analysts reflects a more conservative outlook on the company's future prospects, despite still expecting the stock to outperform the broader market. Lowering the price target typically signals that analysts have a less favorable view of the company's growth potential, which can negatively impact investor sentiment and lead to selling pressure.\nWhile an Outperform rating indicates that Scotiabank believes PACB's stock will perform better than the overall market, the lower price target suggests a more limited upside potential than previously estimated. This likely caused some investors to reevaluate their positions or expectations for the stock, resulting in the significant drop in PACB's share price on Friday.","kind":"news","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"-1","news_tag":"movement","news_rank":0,"symbols":[],"gpt_button":1},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"deviceId":"web-server-community-laohu8-v3","version":"4.29.4","shortVersion":"4.29.4","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/1177178113"}