Market Overview

UPDATE: Wedbush Downgrades Illumina to Neutral on Risk/Reward

Share:
Related ILMN
Earnings Scheduled For January 31, 2017
Even After Price Jump, Vetr Upgrades Illumina
Tracking Ole Andreas Halvorsen's Viking Global Portfolio - Q4 2016 Update (Seeking Alpha)

Wedbush reduced its rating on Illumina (NASDAQ: ILMN) from Outperform to Neutral and reiterated its $52 price target.

Wedbush noted, "We have spoken with several typical sequencing customers recently that are either putting off or second guessing HiSeq purchases because of the attractive price point of ILMN's own sequencing service. In addition, for the first time, we are hearing about instances of used HiSeq 2000's for sale on the secondary market at steep discounts. On a positive note, near-term project pipelines appear robust and, despite continued MiSeq teething pains, feedback remains largely positive to date, with plans for greater utilization by core labs in 2013."

Illumina closed at $55.55 on Thursday.

Latest Ratings for ILMN

DateFirmActionFromTo
Jan 2017Deutsche BankInitiates Coverage OnHold
Jan 2017Bank of AmericaUpgradesNeutralBuy
Nov 2016Leerink SwannAssumesMarket Perform

View More Analyst Ratings for ILMN
View the Latest Analyst Ratings

Posted-In: WedbushAnalyst Color Downgrades Intraday Update Analyst Ratings

 

Related Articles (ILMN)

View Comments and Join the Discussion!