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Fly News Breaks for July 18, 2019
ILMN
Jul 18, 2019 | 07:55 EDT
Argus analyst Jasper Hellweg lowered his price target on Illumina to $340 after its disappointing Q2 pre-announcement showing flat annual growth that was attributed to a "transitory" but "sizable" delayed sale and lighter sales in certain markets. The analyst keeps his Buy rating on Illumina however and calls the recent selloff a buying opportunity, saying the company has been able to recover from "uneven" performance in the past and with shares now trading at an "oversold" level based on the technical relative strength index indicator.
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