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Fly News Breaks for August 10, 2018
ILMN
Aug 10, 2018 | 08:11 EDT
Argus analyst Jasper Hellweg raised his price target on Illumina to $372 and kept his Buy rating while also raising his FY18 EPS view to $5.47 from $4.87. The analyst expects the company to "benefit from a recent CMS decision to provide Medicare coverage for cancer testing using the company's next-generation sequencers". Hellweg also cites Illumina's continued platform investments as they lower the "barriers to entry for smaller labs while increasing the functionality of its gene-sequencing systems".
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