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Investment Bank Downgrades ABI for Modest Revenue Projections

NEW YORK, Oct. 13 (GenomeWeb News) - An investment bank today cut its outlook for Applied Biosystemsfor having "modest" revenue projections and other reasons, according to CBSMarketwatch.

 

J.P. Morgan cut ABI's shares to "underweight" from "neutral," citing valuation and the lack of catalysts, CBSMarketwatch said.

 

The news service said the J.P. Morgan broker "told clients its concerns include the modest top-line growth projections, a lack of near-term uses of cash and the absence of visible near-term catalysts."

The Scan

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