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Fly News Breaks for January 8, 2019
ILMN
Jan 8, 2019 | 09:48 EDT
Goldman Sachs analyst Patrick Donnelly said he views Illumina's Q4 revenues, which the company pre-announced at the JPMorgan Healthcare conference, as "somewhat underwhelming" given that the company averaged about $35M quarterly revenue beats in the prior quarters of 2018. While noting that FY19 EPS guidance is "well above the Street" and acknowledging that initial 2019 revenue guidance is likely to prove conservative, Donnelly thinks investors are likely to view the guidance as "mixed" and he expects the stock to react negatively to Monday's news. The analyst keeps a Neutral rating and $325 price target on Illumina, which is down $11.44, or 3.7%, to $296.45 in early trading.
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