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Fly News Breaks for July 12, 2019
ILMN
Jul 12, 2019 | 09:38 EDT
Canaccord analyst Mark Massaro lowered his price target for Illumina to $330 from $377 and reiterated a Buy rating after the company announced a preliminary revenue miss for the second quarter and cut its 2019 revenue growth guidance by more than 50%. In a research note to investors, Massaro says that while disappointing and a re-rating to 2019 growth, this does not change the "funnel of demand" for sequencing, nor does it reveal anything about a change in competitive dynamics.
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