Piper Sandler analyst David Westenberg thinks Illumina shares will probably trend up again following the departure of CEO Francis deSouza. The news was “somewhat expected,” however, and investors are looking for a definitive position on Grail and signals of the potential for return of former CEO Jay Flatley, the analyst tells investors in a research note. The firm thinks Flatley was likely already in the interim CEO discussion prior to the Charles Dadswell decision. Piper keeps an Overweight rating on Illumina with a $290 price target.
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