RBC Capital analyst Conor McNamara initiated coverage of Illumina with an Outperform rating and $282 price target. He thinks the moat Illumina has built in the next generation sequencing market will prevent future competitors from displacing their "dominant" position, McNamara tells investors. Unknowns regarding the outcome of the Grail acquisition and fear of slowing revenue growth have pressured shares, which he sees creating a buying opportunity, the analyst added.
Published first on TheFly
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