Illumina shares are trading higher after Scotiabank upgraded the stock from Sector Perform to Sector Outperform.
Portfolio Pulse from Benzinga Newsdesk
Illumina's stock (ILMN) has seen an increase in its share price following an upgrade from Scotiabank, which changed its rating from Sector Perform to Sector Outperform.

December 19, 2023 | 7:26 pm
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Illumina's stock price has risen after Scotiabank upgraded the stock from Sector Perform to Sector Outperform, indicating a positive outlook on the company's performance.
Analyst upgrades typically lead to a positive short-term reaction in a stock's price as they suggest a better-than-expected future performance. Since Scotiabank is a reputable financial institution, its upgrade is likely to influence investors' perceptions positively, leading to increased buying activity and a potential rise in Illumina's stock price in the short term.
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