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Fly News Breaks for July 10, 2018
ILMN
Jul 10, 2018 | 09:03 EDT
Cowen analyst Doug Schenkel expects Outperform rated Illumina to beat Q2 revenue expectations by $10M or more, and if NovaSeq consumable revenues/box move above Q1 levels of greater than725K/year, he believes management will raise FY guidance. Schenkel sees $5-10M upside even with a moderation in microarray and even if Illumina missed his NovaSeq placement number based on pull through going up from Q1. The analyst raised his price target on Illumina shares to $315 from $275.
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