Wolfe Research analyst Doug Schenkel maintained a Buy rating on Illumina (ILMN – Research Report) today and set a price target of $150.00.
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Doug Schenkel has given his Buy rating due to a combination of factors influencing Illumina’s current market position. Despite recent challenges, including China’s “blacklisting” and concerns regarding the National Institutes of Health, Schenkel believes that the negative impact on Illumina’s stock has been excessive and not fully justified by the competitive landscape.
Roche’s progress with its new next-generation sequencing (NGS) platform may not pose as significant a threat as initially feared. While Roche has made strides, especially in terms of speed, flexibility, and cost, the details are still vague, and there are unresolved issues regarding sample preparation and data quality. Consequently, Illumina retains a competitive edge in sequencing technology, supporting Schenkel’s optimistic outlook for the company’s future performance.
In another report released on February 10, Piper Sandler also reiterated a Buy rating on the stock with a $190.00 price target.