Auriga Reiterates a 'Buy' on Illumina (ILMN) as '11 Ends Well & '12 Guidance Solid; Rejects Roche's Offer

Auriga reiterates a 'Buy' on Illumina (NASDAQ: ILMN) price target of $60.00.

Auriga analyst said, "Revenue continues to be drive by a recovery in instrument demand (+11% sequentially) and steady consumable demand. Management also provided detailed 2012 guidance that came in above the current consensus. ILMN has a number of key product launches planned for 2012, which should continue to drive demand and help offset the weakness within the Academic setting. ILMN also announced its board unanimously rejected Roche's unsolicited tender offer as inadequate, noting the current $44.50 per share offer undervalues the long term potential of the company."

For an analyst ratings summary and ratings history on Illumina click here. For more ratings news on Illumina click here.

Shares of Illumina closed at $51.80 yesterday.

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