Fly News Breaks for July 30, 2019
Jul 30, 2019 | 07:26 EDT
Canaccord analyst Mark Massaro downgraded Illumina to Hold from Buy following its disappointing Q2 preannounced earnings miss. The analyst said he has even further doubt of a reacceleration of its growth in its various units. In addition to its lower growth outlook, he cited mix pressures to gross margins and its premium valuation. Massaro lowered his price target to $300 from $330 on Illumina shares.
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