Analyst Daniel Brennan of TD Cowen reiterated a Hold rating on Illumina, boosting the price target to $115.00.
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Daniel Brennan has given his Hold rating due to a combination of factors influencing Illumina’s current market position. The company reported a 2% sales beat driven by better-than-expected performance in China and an acceleration in clinical consumable growth. Despite these positive aspects, there are ongoing challenges such as administrative and general expenses that continue to weigh on the company’s financials. Additionally, the competitive landscape poses risks, particularly with Roche’s anticipated market entry in 2026.
While Illumina has shown solid margins and raised its guidance for 2025, uncertainties remain. The stock has been relatively stable due to concerns about NIH spending, the transition in clinical applications, and competitive pressures. Although there is optimism for stronger consumable growth in 2026, the potential impact of new competitors like Element and Roche is a significant consideration. As a result, Brennan maintains a Hold rating, reflecting a cautious outlook while acknowledging the potential for future growth.
In another report released yesterday, TR | OpenAI – 4o also reiterated a Hold rating on the stock with a $101.00 price target.