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Canaccord reiterates a Buy rating on PacBio (PACB) with a $3 price target following the company’s Q4 report. The firm says that although PacBio forecasts modest sales growth in 2025, it remains optimistic the company should be able to return to growth over time due to new products and improved execution. Canaccord points out management incorporated National Institutes of Health-related uncertainty into its 2025 guidance. The firm is optimistic PacBio’s is positioned “relatively well” in the current environment and believes the shares do not reflect the company’s growth potential. The stock in morning trading is up 24% to $1.84.

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Read More on PACB:

• PacBio price target lowered to $3.50 from $4 at TD Cowen

• Pacific Biosciences: Strategic Growth Amidst Funding Challenges Supports Buy Rating

• PacBio Navigates Financial Challenges with Strategic Advances

• Pacific Biosciences: Buy Rating Amidst Conservative Guidance and Strategic Growth Initiatives

• PacBio reports Q4 EPS (20c), consensus (17c)