Market Overview

UPDATE: Piper Jaffray Upgrades Illumina to Overweight on Positive Sequencing Update

Share:
Related ILMN
The Market In 5 Minutes: Dow, S&P 500 Trading At All-Time Highs
Wall Street's M&A Chatter From November 21
The Vetr community has upgraded $ILMN to 4-Stars. (Vetr)

Piper Jaffray raised its rating on Illumina (NASDAQ: ILMN) from Neutral to Overweight and raised its price target from $47 to $61.

Piper Jaffray commented, "Our recent sequencing database update suggest ongoing Illumina next-gen sequencing share gains, with HiSeq installed base increasing 13.2% and MiSeq growing 101.4% (off a small base) compared to our previous update (June 2012), suggesting potential upside to our 4Q12 sequencing instrument estimates. Separately, recent media reports suggest ongoing acquisition discussions between Roche and Illumina. We cannot confirm or refute ongoing discussions between the two companies, but we do believe speculation of a pending deal puts a floor on ILMN share price."

Illumina closed at $55.55 on Thursday.

Latest Ratings for ILMN

DateFirmActionFromTo
Nov 2016Leerink SwannAssumesMarket Perform
Nov 2016First AnalysisDowngradesEqual-WeightUnderweight
Oct 2016CitigroupMaintainsNeutral

View More Analyst Ratings for ILMN
View the Latest Analyst Ratings

Posted-In: Piper JaffrayAnalyst Color Upgrades Pre-Market Outlook Analyst Ratings

 

Related Articles (ILMN)

View Comments and Join the Discussion!