Puneet Souda, an analyst from Leerink Partners, reiterated the Buy rating on Illumina (ILMN – Research Report). The associated price target remains the same with $115.00.
Protect Your Portfolio Against Market Uncertainty
- Discover companies with rock-solid fundamentals in TipRanks' Smart Value Newsletter.
- Receive undervalued stocks, resilient to market uncertainty, delivered straight to your inbox.
Puneet Souda’s rating is based on a combination of factors, primarily focusing on Illumina’s strong position in the consumable clinical customer segment, which constitutes about 60% of its core business. Despite a challenging market environment, this segment is expected to drive growth in the second half of the year as new installations increase volume pull-through.
Additionally, while there is competitive pressure from companies like Roche, the current stock price already reflects the market uncertainties, including challenges related to the U.S. academic sector and the Chinese market. The company’s cost reduction initiatives and strategic adjustments in response to the Chinese market’s downturn further support the Buy rating, as these measures are likely to mitigate financial impacts and sustain growth outside of China.
According to TipRanks, Souda is an analyst with an average return of -13.7% and a 27.94% success rate. Souda covers the Healthcare sector, focusing on stocks such as Bruker, Illumina, and Repligen.
In another report released on May 9, Piper Sandler also maintained a Buy rating on the stock with a $190.00 price target.