After Illumina (ILMN) preannounced lower than expected revenue, Wells Fargo says that the company continues to have a monopoly in high-throughput sequencing, while it continues to be the only pure-play stock of meaningful market cap offering broad non-therapeutic exposure to "the personalized medicine revolution." Wells thinks that Thermo Fisher (TMO) could be gaining share in low-throughput sequencing, but it does not believe that this business is the main value driver for Illumina. Wells keeps an Outperform rating on Illumina.
Deutsche Bank raised the firm's price target on Thermo Fisher to $610 from $600 and keeps a Buy rating on the shares post the Q1 report. The analyst says a solid operational performance drove a strong start to 2024.
Barclays analyst Luke Sergott raised the firm's price target on Thermo Fisher to $615 from $590 and keeps an Equal Weight rating on the shares. The company reported a beat across the board, says the analyst, who sees the business stabilizing.
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