Auriga Reiterates a 'Buy' on Illumina (ILMN); Lowers PT & Estimates
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Auriga reiterates a 'Buy' on Illumina Inc. (Nasdaq: ILMN), lowers price target from $44 to $39.
Auriga analyst says, "In our Q3 note of October 28, we maintained our 2010 estimates for Illumina Inc. (ILMN) and indicated that we would revisit these numbers as the fourth quarter progressed. Based on our checks of an ongoing slowdown in GWAS activity, a still-challenging EU, and the continued lumpy flow of stimulus dollars, we are adjusting our 2010 numbers down to $809MM/$1.10 from $859MM/$1.25...We believe that our Q4 numbers are reachable, as guidance is for “a minimum of $165MM,” and resolution of the consumables-related issue and new GA orders should help reach that number. Moreover, the street numbers for 2010 have to be realistic enough to recognize certain realities related to the GWAS and EU segments, as outlined above. We believe that our current 2010 numbers reflect that and, therefore, believe that Illumina still presents a compelling investment opportunity at these levels."
To see all the upgrades/downgrades on shares of ILMN, visit our Analyst Ratings page.
Illumina, Inc. engages in the development, manufacture, and marketing of integrated systems for the analysis of genetic variation and biological function.
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