Canaccord analyst Kyle Mikson raised the firm’s price target on Illumina (ILMN) to $99 from $87 and keeps a Hold rating on the shares following a podcast session with CEO Jacob Thaysen. Thaysen commented that strong volume growth from clinical customers should help lead to increased revenue growth as pricing headwinds subside, and elaborated that the growth algorithm remains intact, although this will depend on continued adoption of the NovaSeq X, the analyst tells investors in a research note. Illumina appears positioned for improved execution over the medium-term, but Canaccord remains on the sidelines.
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