Citi lowered the firm’s price target on Illumina to $85 from $150 and keeps a Sell rating on the shares. The analyst cites continued pressure on consumables growth and margins post the Q3 report for the target drop. Illumina continued to face headwinds in biopharma, a slowdown in X shipments along with pricing pressures and deteriorating macro in China, the analyst tells investors in a research note.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
See Insiders’ Hot Stocks on TipRanks >>
Read More on ILMN:
- Illumina put volume heavy and directionally bearish
- Illumina price target lowered to $50 from $100 at Barclays
- Plug Power downgraded, Arm initiated: Wall Street’s top analyst calls
- Illumina price target lowered to $140 from $170 at BofA
- Illumina price target lowered to $160 from $180 at Evercore ISI