Argus analyst Jasper Hellweg lowered his price target on Illumina to $340 to reflect its recent Q4 earnings miss along with the company's view of the product transition not having reached the halfway mark for the upgrade cycle. The analyst also kept his Buy rating on Illumina and raised his FY19 EPS view to $6.56 from $6.34, noting that any unevenness from pre-tariff stocking by customers which has recently impacted results "should dissipate over time." Hellweg further justifies his positive view on the company based on "strong sales of consumables, continued progress on the company's product transition, and gradual normalization in the timing of orders."