Illumina upgraded to Equal Weight from Underweight at Barclays

Barclays upgraded Illumina to Equal Weight from Underweight with a $125 price target. While the analyst day was not as exciting as some had hoped, it lays a solid framework on how to think about the business going forward, the analyst tells investors in a research note. The firm says Illumina’s updated long-term framework came in-line with its expectations and that management is taking a more realistic approach to the business. As such, Barclays believes its bear thesis has played out.