Fly News Breaks for July 30, 2019
Jul 30, 2019 | 06:47 EDT
JPMorgan analyst Tycho Peterson believes Illumina's long-term fundamentals remain intact after the company's Q2 sales missed expectations. The issues plaguing Illumina's Q2 performance are not fundamental, but transitory, Peterson tells investors in a post-earnings research note. He believes the softness in Q2 appears to be driven by factors beyond the company's direct control. The analyst keeps an Overweight rating on Illumina with a $350 price target.
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