Illumina shares are trading higher after Citigroup upgraded the stock from Sell to Neutral and raised its price target from $85 to $120.
Portfolio Pulse from Benzinga Newsdesk
Illumina's stock price has increased following an upgrade by Citigroup from Sell to Neutral, with a raised price target from $85 to $120.
December 11, 2023 | 7:41 pm
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POSITIVE IMPACT
Illumina's stock is likely to experience a positive short term impact due to Citigroup's upgrade from Sell to Neutral and an increased price target from $85 to $120.
Analyst upgrades typically lead to a positive short term reaction in the stock market as they reflect a change in the perceived value and outlook of the company. The significant increase in the price target suggests a more favorable view of Illumina's future performance, which can instill investor confidence and drive up the stock price.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 100