tiprankstipranks
The Fly

TD downgrades Illumina on ‘disappointing’ outlook, China risk

TD downgrades Illumina on ‘disappointing’ outlook, China risk

TD Cowen downgraded Illumina (ILMN) to Hold from Buy with a price target of $140, down from $177. Accelerating high throughput next-generation sequencing consumable growth is key to Illumina’s revenue growth and the stock’s multiple, and the 2025 outlook is “disappointing,” the analyst tells investors in a research note. The firm believes the “modest” total next-generation sequencing growth likely reflects muted elasticity and the competitive impact. China uncertainty is also a risk for Illumina, adds TD.

Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>

Questions or Comments about the article? Write to editor@tipranks.com