Baird analyst Catherine Ramsey Schulte lowered the firm’s price target on Illumina to $180 from $229 and keeps a Neutral rating on the shares. The firm said they reported a solid 2Q, with revenue slightly above high-end guidance and nice margin upside driving an EPS beat. However, 2023 guidance was meaningfully reduced on China softness, incremental disruption from high-throughput consumables transition, and funding/budget pressures impacting customer spending.
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