Canaccord raised the firm’s price target on Illumina (ILMN) to $150 from $130 and keeps a Hold rating on the shares. The firm noted they reported preliminary 4Q25 and full-year 2025 results that were ahead of firm estimates and FactSet consensus. The solid results for 4Q25 were driven by 7% year-over-year growth in ex-China revenue. Canaccord expects continued progress in the transition to NovaSeq X to support consumables growth in 2026, alongside early contributions from new initiatives such as the Billion Cell Atlas, Illumina Protein Prep and the 5-base solution.
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