Mason Carrico, an analyst at Stephens, initiated coverage of Illumina, Inc. (NASDAQ:ILMN) with an Overweight rating and a $170 price target. Despite facing headwinds from EU antitrust regulators over its acquisition of Grail, Illumina is expected to see accelerated growth due to its strong position in the Next Generation Sequencing (NGS) market, particularly in clinical oncology. Carrico believes that Illumina will benefit from the market's growth and anticipates improved revenue and cash flow by 2025. Illumina's shares rose by 6.03% to $134.31 following the coverage initiation.