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Fly News Breaks for October 6, 2015
ILMN
Oct 6, 2015 | 07:53 EDT
Canaccord noted that Illumina preannounced a Q3 miss and lowered guidance for Q4, but the firm feels the news is not all bad. The firm believes the fact that both HiSeq and HiSeq X shipments are exceeding the company's expectations are material positives for the company and should set a floor for the stock at some point. Canaccord maintained its Buy rating and $250 price target on Illumina shares, which are down about 17% to $136 in pre-market trading.
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