Illumina price target lowered to $77 from $100 at Barclays

Barclays lowered the firm’s price target on Illumina (ILMN) to $77 from $100 and keeps an Underweight rating on the shares as part of a Q1 earnings preview for life science tools and diagnostics group. Tools are still defensive, but less so than in the past given the threat of the pharma-specific tariffs potentially causing another round of budget cuts, the analyst tells investors in a research note. Barclays also downgraded the contract research organizations on lower visibility.