Barclays Upgrades Illumina (ILMN) to Overweight Citing Better Conviction in Durability of NGS Revenue Growth
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Barclays upgraded Illumina (NASDAQ: ILMN) from Equalweight to Overweight with a price target of $300.00 (from $235.00).
Analyst Jack Meehan comments "We believe our proprietary NovaSeq customer survey provides an answer to the critical question for the Illumina thesis at the critical time: There is substantial elasticity of demand with customers who have adopted the NovaSeq system, which provides visibility into multiple years of double-digit growth for Illumina."
Shares of Illumina closed at $244.82 Friday.
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