Illumina bull case remains despite slow start to year, says Canaccord

Canaccord analyst Mark Massaro said the bull case for illumina remains intact despite a slower than expected start to the year. While Q4 revenues were in-line with its pre-announcement, management did not elaborate on why it expected a slower start to the year, but the analyst said he guesses it could be the removal of discounting off the 23andME and Ancestry kits. Massaro reiterated his Buy rating and lowered his price target to $360 from $375 on Illumina shares.

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