Analysts Increase Valuations, Upgrade Illumina

from GenomeWeb

Illumina Stock RisingNEW YORK (GenomeWeb News) – Two investment banks today issued bullish opinions on Illumina, noting the continued uptake of the company’s next-generation sequencers as well as the benefits of persistent rumors about a possible purchase of Illumina by Roche, and the penetration of the technology into the diagnostics arena.

Piper Jaffray upgraded the San Diego firm to an Overweight rating from Neutral and raised the price target on Illumina’s stock to $61 from $47. Separately, Leerink Swann increased its valuation to a range of $62 to $63 from an earlier range of $57 to $59 while it maintained an Outperform rating.

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