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ILMN

Illumina

$363.55

-9.15 (-2.46%)

07:26
07/12/19
07/12
07:26
07/12/19
07:26

Illumina selloff an opportunity for longer term investors, says JPMorgan

While last night's preannouncement is "clearly disappointing," Illumina remains one of the best-positioned secular growth stories in the space, JPMorgan analyst Tycho Peterson tells investors in a research note. The analyst encourages longer-term investors to take advantage of today's share weakness and keeps an Overweight rating on the name. He admits, however, that the stock will likely remain under near-term pressure pending better visibility on a 2020 recovery.

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ILMN Illumina
$363.55

-9.15 (-2.46%)

07/12/19
COWN
07/12/19
NO CHANGE
Target $320
COWN
Outperform
Illumina price target lowered to $320 from $380 at Cowen
Cowen analyst Doug Schenkel lowered his price target for Illumina to $320 from $380 following the company's "huge" second quarter miss and fiscal year guidance reduction. In a research note to investors, Schenkel says while expectations for the quarter weren't high, "we didn't see a $50M miss coming," adding that the FY guidance cut is "notable." While he says the bias could be to the upside, he contends that Illumina "doesn't get the benefit of the doubt" given recent execution. He maintains an Outperform rating.
07/12/19
LEHM
07/12/19
NO CHANGE
Target $340
LEHM
Overweight
Illumina new guidance may prove conservative, says Barclays
Barclays analyst Jack Meehan calls the magnitude of Illumina's Q2 miss "very disappointing" but keeps an Overweight rating on the shares. He lowered his price target for the stock to $340 from $370. Given underlying funding and the transitory nature of the Q2 issues, the new guidance could prove conservative, Meehan tells investors in a research note.
07/12/19
BOFA
07/12/19
DOWNGRADE
Target $290
BOFA
Underperform
Illumina downgraded to Underperform from Buy at BofA/Merrill
BofA/Merrill analyst Derik de Bruin double downgraded Illumina to Underperform from Buy and lowered his price target for the shares to $290 from $355. The analyst views last night's preannounced miss as surprising given management's positive commentary. He now sees limited visibility and few near-term catalysts for the shares.
07/12/19
BOFA
07/12/19
DOWNGRADE
BOFA
Underperform
Illumina downgraded to Underperform from Buy at BofA/Merrill

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