Shares of Illumina, Inc. ILMN had been performing pretty well since they hit their early February lows. However, after the company reported its preliminary first quarter results on Monday afternoon, shares tumbled; the stock lost 21.16 percent on Tuesday.
Following such a substantial decline in the share price, top raters at the Vetr community decided to upgrade their rating on the stock from 3.0 Stars to 5.0 Stars -- out of a possible 5.0 Stars rating.
Related link: Here's How Crowdsourced Ratings Can Beat The Market
The new rating reflects the crowd’s average price target of $174.52, which now implies an upside potential from current valuations of more than 25.75 percent.
Finally, it should be noted that 88 percent of the crowd's ratings are bullish.
Disclosure: Javier Hasse holds no positions in any of the securities mentioned above.
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