HSBC analyst Shubhangi Gupta downgraded Illumina (ILMN) to Hold from Buy with a price target of $100, down from $190. The firm sees near-term risks and lower structural growth for Illumina. HSBC reduced instrument placements and its medium-term sequencing revenue estimates for Illumina, and assumes an additional risk premium for the shares due to potential sanctions from China and budget cuts.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on ILMN:
- Illumina downgraded to Hold from Buy at HSBC
- Sell Rating Issued for Illumina Amid Competitive Threats from Roche’s NGS Platform
- Illumina’s Resilient Market Position Amid Emerging Competition: A Buy Recommendation by Puneet Souda
- Illumina’s Competitive Edge: Overcoming Challenges and Retaining Market Leadership
- Illumina weakness ‘overdone,’ says Wolfe Research