Loading...
Loading...
ISI Group initiated its coverage on Illumina
ILMN with a Market Weight rating and a $45 price target.
ISI Group noted, "We are initiating coverage on shares of Illumina with a Market Weight rating and a price target of $45.00, which on a forward basis equates to ~12x EV/EBITDA and ~25x operating EPS. Our thesis for ILMN is based on our view that strong growth in MiSeq and an improving HiSeq through-put will help to offset an
increasingly challenging budgetary environment, that microarray growth will remain modest as demand for emerging applications helps to soften a slowdown in legacy GWAS, and that recent strategic interest in asset (e.g. Roche's hostile bid) provides a modest valuation premium."
Illumina closed at $40.60 on Monday.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
date | ticker | name | Price Target | Upside/Downside | Recommendation | Firm |
---|
Benzinga simplifies the market for smarter investing
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
Join Now: Free!
Already a member?Sign in