Illumina (ILMN) has had an “eventful” 24 hours, featuring the announcements that the IR and Chief Information Officer are departing, while Illumina on Tuesday announced several changes to the board, including the departure of Stephen MacMillan, and the appointment of Corvex Management’s Keith Meister, BofA tells investors in a research note. The firm doesn’t see any real change coming as a result of the various moves, and still believes Illumina faces multiple structural, competitive, and market challenges. BofA has an Underperform rating and $90 price target on Illumina shares.
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