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Fly News Breaks for November 2, 2016
ILMN
Nov 2, 2016 | 06:59 EDT
First Analysis analyst Joseph Munda downgraded Illumina to Underweight saying the valuation is too high given management's "unconvincing arguments about the outlook," his concerns regarding overcapacity and a "continued lack of new products in the near-term pipeline." The analyst lowered his price target for the shares to $116 from $130 following Illumina's Q3 results.
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