UBS raised the firm's price target on 10x Genomics to $20 from $14 and keeps a Neutral rating on the shares. Despite positive U.S. academic funding headlines, academic demand is expected to remain muted in 2026 as customers await more consistent funding disbursements, leading to a projected 10% decline in instrument revenue, the analyst tells investors in a research note. In consumables, continued pressure in single-cell products, following 20% pricing declines in FY25 tied to Flex Apex adoption, is expected to be partially offset by double-digit growth in spatial consumables, the firm adds.
