Illumina price target raised to $200 from $160 at Leerink

Leerink raised the firm’s price target on Illumina to $200 from $160 and keeps an Outperform rating on the shares ahead of Q3 earnings, as the firm previews key debates for companies across its Life Science Tools and Diagnostics coverage. Leerink sees three major themes, namely the timing of recovery in core pharma/biotech end-markets, China still weak but stable sequentially, and possible weakness in academic end-market.