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Fly News Breaks for November 30, 2016
ILMN
Nov 30, 2016 | 08:23 EDT
Morgan Stanly analyst Steve Beuchaw said recent survey results suggest instrument purchases will decline by over 50% in the next 2 years, indicating contracting Illumina demand in 2017. Survey respondents highlight mix and share risks to consumables with purchase decline expectations higher than expected. Beuchaw sees 300bps downside risk to Illumina revenues in 2017 and maintains his Underweight rating and $115 price target on shares.
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