KeyBanc lowered the firm’s price target on Absci (ABSI) to $5 from $6 and keeps an Overweight rating on the shares. The firm notes healthcare technology stocks were under pressure for most of last year but saw a rebound in the last two months following the Trump election. In combination with consensus estimate cuts since the middle of last year, KeyBanc sees attractive buying opportunities in the space in 2025. From a valuation multiple perspective, the firm believes companies with healthy balance sheets and steady free cash flow profiles will see less risk to multiple contraction, even with more modest growth trends. Conversely, it sees the most risk for companies that have challenged balance sheets and limited profitability in the near and longer term.
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Read More on ABSI:
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- Absci initiated with a Buy at JonesResearch
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
