Barclays Maintains Underweight on Illumina, Raises Price Target to $80
Portfolio Pulse from Benzinga Newsdesk
Barclays analyst Luke Sergott has maintained an Underweight rating on Illumina (NASDAQ:ILMN) but increased the price target from $50 to $80.

January 25, 2024 | 2:48 pm
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Barclays maintains an Underweight rating on Illumina but raises the price target from $50 to $80, indicating a potential downside risk but less than previously anticipated.
The Underweight rating suggests that Barclays analysts believe Illumina's stock may underperform the market or its sector. However, the increase in the price target from $50 to $80 indicates that the expected downside may be less severe than previously thought. This could lead to a short-term negative impact on the stock as the market digests the mixed signals of a maintained Underweight rating with a higher price target.
CONFIDENCE 90
IMPORTANCE 75
RELEVANCE 100