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Fly News Breaks for April 10, 2018
ILMN
Apr 10, 2018 | 05:08 EDT
Piper Jaffray analyst William Quirk recommends using the recent pullback in shares of Illumina as a buying opportunity. The analyst found 42 NovaSeq placements in his Q1 checks, which compares with 57 in Q4, a quarter where the company placed 89. Quirk models for 85 placements in Q1. While the checks suggest limited upside from system installs, a combination of sequencing consumables and arrays could drive revenue upside in Q1, Quirk tells investors in a pre-earnings research note. He keeps an Overweight rating on Illumina with a $269 price target.
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