Illumina price target lowered to $240 from $255 at UBS

UBS analyst John Sourbeer lowered the firm’s price target on Illumina to $240 from $255 and keeps a Neutral rating on the shares. Illumina posted a mixed Q4 performance with consolidated revenue ~in-line with preannouncement and EPS missed consensus by 46.2%, the analyst tells investors in a research note. 2023 guidance was maintained, though initial guidance was below the Street, UBS says.