Illumina removed from ‘Tactical Outperform’ list, target lowered at Evercore ISI

Evercore ISI lowered the firm’s price target on Illumina to $180 from $240 and keeps an Outperform rating on the shares, which the firm removed from its “Tactical Outperform” list, explaining that its prior “new CEO catalyst” thesis “did not work.” The firm made the change as part of a preview ahead of Q3 earnings season for the MedTech, Life Science Tools and Diagnostics group.