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Fly News Breaks for May 4, 2016
ILMN
May 4, 2016 | 08:33 EDT
Leerink analyst Dan Leonard lowered his price target for Illumina to $145 from $165 after the company guided Q2 below expectations. The second half of 2016 assumes a meaningful acceleration to full year guide, but the analyst has less visibility on this acceleration than the analyst would like. Leonard notes Illumina needs to exceed revenue expectations for its stock to work, but he does not see a driver for these types of revenue beats. The analyst reiterates a Market Perform rating.
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