Argus upgraded Illumina to Buy from Hold with a $150 price target. The stock has fallen significantly over the past several years amid slowing product sales and antitrust litigation related to the company’s GRAIL acquisition, but Illumina appears to have now turned the corner and delivering multiple quarters of margin growth, launching new products and services, and introducing ambitious earnings guidance for 2024,the analyst tells investors in a research note. Illumina is poised for a return to Lasting growth over the months and years ahead, Argus added.
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