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Fly News Breaks for May 15, 2017
ILMN
May 15, 2017 | 09:00 EDT
Morgan Stanley analyst Steve Beuchaw reviewed underlying margin trends for Illumina and found a structural moderation due to a consumables deceleration, headcount growth, and a shift of volumes to more efficient platforms from legacy platforms. The analyst reduced earnings estimates by 6%/8%and revenues by 3%/4% in 2018/19, respectively and raised his price target to $115 from $108 and maintains an Underweight rating.
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