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Fly News Breaks for December 7, 2016
ILMN
Dec 7, 2016 | 08:30 EDT
Morgan Stanley analyst Steve Beuchaw lowered Illumina's price target to $100 saying slower growth is likely to persist. Beuchaw's latest survey indicates instrument revenue pressures will continue into 2017, Academic funding is likely to remain challenged and Pharma spending is slowing, clinical growth remains subdued, and users are increasingly optimistic about alternatives to Illumina in clinical. The analyst is less confident in an instrument recovery or an inflection in clinical and reiterates his Underperform rating.
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