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UPDATE: Citigroup Reiterates Illumina at Neutral on Valuation

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Citigroup maintained Illumina (NASDAQ: ILMN) at Neutral with a $51 price target.

Citigroup commented, "We expect the stock to be under pressure today as investors question the deal valuation/near-term $0.20 EPS dilution of the Verinata deal, the longer term impact of ILMN competing with its own customers (i.e., SQNM), and the level (if any) of Roche takeout premium to still ascribe to the stock. We remain on the sidelines on ILMN stock given the stock's current multiple and level of investment required/EPS power for the company in 2013."

Illumina closed at $54.76 on Friday.

Latest Ratings for ILMN

DateFirmActionFromTo
Mar 2015UBSInitiates Coverage onBuy
Jan 2015BarclaysMaintainsEqual-weight
Jan 2015JP MorganMaintainsOverweight

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Posted-In: CitigroupAnalyst Color Reiteration Intraday Update Analyst Ratings

 

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