Illumina price target raised to $142 from $132 at Evercore ISI

Evercore ISI analyst Vijay Kumar raised the firm’s price target on Illumina (ILMN) to $142 from $132 and keeps an Outperform rating on the shares. Illumina’s Q3 performance exceeded expectations with total revenues about 2% above Wall Street estimates, driven by strong operational management and cost efficiencies, the analyst tells investors in a research note. The firm added that challenges in China persist due to export restrictions, impacting instrument revenues by 54%, despite recent approvals to manufacture select instruments locally.