Piper Sandler analyst William Quirk says he found 44 Novaseq's in his latest channel checks, more than in recent quarters and more than he found last year. Based on historical checks, this translates into a range of 88-102 systems for Q4 versus the Street estimate of 97, Quirk tells investors in a research note. The analyst also expects Illumina to "be more conservative" in its 2020 revenue growth guidance than in 2019, translating into a 10%-12% range versus the Street's 12.3% estimate. Quirk raised his price target for Illumina shares to $370 from $341 and keeps an Overweight rating on the name.