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Fly News Breaks for January 30, 2019
ILMN
Jan 30, 2019 | 07:41 EDT
UBS analyst Daniel Brennan noted Illumina reported negative NovaSeq data in Q4, but said the long-term thesis remains intact. He said very large markets for Illumina and next-gen sequencing are just opening up, yielding a robust growth opportunity. The company's demand elasticity remains intact, its financial position remains attractive, and the company remains in a dominant position, according to Brenna. He reiterated his Buy rating and lowered his price target to $350 from $370 on Illumina shares following the company's quarterly report.
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