Illumina price target lowered to $130 from $165 at Citi

Citi analyst Patrick Donnelly lowered the firm’s price target on Illumina (ILMN) to $130 from $165 and keeps a Neutral rating on the shares post the Q4 report. The company’s sequencing consumables revenues of $698M came in below expectations and were down 6% sequentially, the analyst tells investors in a research note. The firm cites greater uncertainty and lowered estimates for the target cut.