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Illumina price target raised to $105 from $100 at Morgan Stanley

Morgan Stanley raised the firm’s price target on Illumina (ILMN) to $105 from $100 and keeps an Equal Weight rating on the shares. The company’s Q2 earnings beat estimates on strong margins and its clinical adoption momentum is encouraging, the analyst tells investors in a research note. However, the firm points out Illumina’s research end market remained muted in the quarter on budget constraints.

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