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Fly News Breaks for October 6, 2015
ILMN
Oct 6, 2015 | 05:58 EDT
Piper Jaffray analyst William Quirk is a buyer of Illumina shares on today's selloff following the company's weaker than expected preliminary Q3 results. The second quarterly miss in a row is disappointing, but the quarter's issues are largely macro related or transitory, Quirk tells investors in a research note. He cut his price target for shares to $220 from $230 and keeps an Overweight rating on the name. Mizuho analyst Eric Criscuolo downgraded Illumina this morning to Neutral.
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