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Argus lowered the firm’s price target on Illumina (ILMN) to $100 from $170 and keeps a Buy rating on the shares. The stock has fallen significantly over the past several months amid geopolitical tensions, antitrust issues, and slowing product sales, the analyst tells investors in a research note. However, the firm believes Illumina “appears to be turning the corner,” delivering multiple quarters of margin growth, launching new products and services, and providing “strong” earnings guidance for 2025. The stock’s “discounted price” offers a buying opportunity, contends Argus.
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