Stifel analyst Daniel Arias lowered the firm’s price target on Illumina to $235 from $285 and keeps a Buy rating on the shares. The company’s Q4 results were "slightly above" pre-announced levels and the FY23 guidance is unchanged, though the Q1 outlook is "pretty soft," the analyst tells investors. The Nova X order ramp will be "production constrained, not demand constrained," but on the consumables side "we are less bullish," Stifel added.
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