Illumina initiated with Sector Perform on Grail uncertainty Scotiabank

Scotiabank analyst Sung Ji Nam last night initiated coverage of Illumina with a Sector Perform rating and $216 price target. The analyst started coverage on nine companies in the life science tools and diagnostics space with a positive view on the sector. While bullish on Illumina’s core business over the next decade, the analyst favors the sidelines pending further clarity on the company’s ownership of Grail.