Goldman Sachs Downgrades Illumina (ILMN) to Neutral
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Price: $219.40 +2.89%
Rating Summary:
18 Buy, 20 Hold, 6 Sell
Rating Trend:
Down
Today's Overall Ratings:
Up: 8 | Down: 5 | New: 26
Rating Summary:
18 Buy, 20 Hold, 6 Sell
Rating Trend:
Down
Today's Overall Ratings:
Up: 8 | Down: 5 | New: 26
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Goldman Sachs downgraded Illumina (NASDAQ: ILMN) from Buy to Neutral with a price target of $66 (down from $76).
The firm said, "With 40% of revenues tied to US academic labs and one third of revenues tied to low growth microarray technology, we acknowledge that ILMN may face greater-thananticipated funding headwinds that preclude material revenue beats that we view as essential to driving multiple expansion."
In the sector, Goldman also downgraded Waters (NYSE: WAT) and upgraded Mettler-Toledo International, Inc. (NYSE: MTD).
For more ratings news on Illumina click here and for the rating history of Illumina click here.
Shares of Illumina closed at $54.50 yesterday.
The firm said, "With 40% of revenues tied to US academic labs and one third of revenues tied to low growth microarray technology, we acknowledge that ILMN may face greater-thananticipated funding headwinds that preclude material revenue beats that we view as essential to driving multiple expansion."
In the sector, Goldman also downgraded Waters (NYSE: WAT) and upgraded Mettler-Toledo International, Inc. (NYSE: MTD).
For more ratings news on Illumina click here and for the rating history of Illumina click here.
Shares of Illumina closed at $54.50 yesterday.
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