Stifel analyst Daniel Arias lowered the firm’s price target on 908 Devices (MASS) to $6 from $17 and keeps a Buy rating on the shares after a “difficult” Q3 that included “a sharp guidance cut that raises questions about the growth trajectory in both 2024 and 2025.” The Q3 report “exposed the issues with being heavily dependent” on government funding cycles at a time when instrument demand on the other side of the house remains weak for the company, the analyst added.
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Read More on MASS:
- 908 Devices downgraded to Market Perform from Outperform at Leerink
- 908 Devices Inc. Reports Q3 2024 Financial Results
- 908 Devices Restructures for Cost Efficiency and Growth
- 908 Devices reports Q3 EPS (84c), consensus (28c)
- 908 Devices cuts FY24 revenue view to $56M-$58M from $63M-$65M
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