Illumina price target raised to $160 from $125 at Stifel

Stifel raised the firm’s price target on Illumina to $160 from $125 and keeps a Buy rating on the shares. The company’s quarter and call were “relatively uncontroversial,” as results were mostly in line with the pre-announcement and the outlook for FY24 is unchanged. The firm sees room for the year to come in a bit better than the initial consumables outlook if clinical demand can remain solid, but “early-year prudence is no doubt the right call,” the analyst tells investors.