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Fly News Breaks for November 2, 2018
PACB, ILMN
Nov 2, 2018 | 09:09 EDT
Cowen analyst Doug Schenkel said Illumina's (ILMN) acquisition of Pacific Bioscience (PACB) makes a lot of sense, doesn't require a lot of cash, should be accretive fairly quickly and can generate meaningful upside to expectations. Schenkel reiterated his Outperform rating and $400 price target on Illumina shares.
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