Wedbush Securities Raises Price Target On Illumina On Higher Quality 4Q14 Results

In a report published Wednesday, Wedbush Securities analyst Zarak Khurshid reiterated an Outperform rating on

, and raised the price target from $200.00 to $230.00. In the report, Wedbush Securities noted, “4Q14 sequencing business [is] even better than the 1/12/15 preannouncement suggested. ILMN reported $512 MM and $0.87 non-GAAP EPS, which topped our initial $497 MM and $0.79 EPS estimate. Consensus estimates were for $506 MM and $0.78. Most of the $0.08 EPS beat was due to tax benefits.” Illumina closed on Tuesday at $203.25.