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Fly News Breaks for January 31, 2018
ILMN
Jan 31, 2018 | 06:57 EDT
First Analysis analyst Joseph Munda upgraded Illumina to Overweight and raised his price target for the shares to $277 from $230. The company remains in the early innings of a multiyear upgrade cycle for NovaSeq, Munda tells investors in a research note following the Q4 earnings report. He expects strengthening clinical sequencing demand, new product launches and consumer genotyping services will help drive 10%-plus revenue growth in each of the next two years.
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