Illumina, the Healthcare sector company, was revisited by a Wall Street analyst on July 31. Analyst Puneet Souda from Leerink Partners reiterated a Buy rating on the stock and has a $120.00 price target.
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Puneet Souda has given his Buy rating due to a combination of factors that highlight Illumina’s strategic positioning and future growth potential. Illumina has demonstrated resilience by ending the quarter slightly ahead of expectations, with clinical applications now accounting for a significant portion of their business. This shift towards clinical diagnostics is expected to drive revenue growth into 2026, positioning Illumina as a key player in oncology diagnostics.
Moreover, despite some challenges such as pricing headwinds and academic sector weakness, Illumina’s management has managed to maintain strong margins and offset the impact of tariffs. The company’s consumables segment has shown strength, and there is optimism about resolving pricing issues, which could further enhance their 2026 outlook. These factors, combined with strategic cost actions, have led to a positive outlook for Illumina, justifying the Buy rating.
According to TipRanks, Souda is an analyst with an average return of -10.2% and a 31.31% success rate. Souda covers the Healthcare sector, focusing on stocks such as Quanterix, Illumina, and Exact Sciences.
In another report released on August 1, Evercore ISI also maintained a Buy rating on the stock with a $135.00 price target.