Morgan Stanley provided color on Illumina ILMN after meeting the company's CEO Jay Flatley. In a research report published today, Morgan Stanley maintained its optimism about the company's long-term prospects.
In the report, Morgan Stanley states, "Early MiSeq orders
appear to be building strongly with demand from both
current and new customers consistent with a large, new
market for sequencing. Head to head evaluations of
MiSeq and Life's Ion Torrent/PGM have been limited to
date but will be an increasingly common competitive
theme with the formal MiSeq launch in 3Q... GM will continue to rise with
sequencing consumable price/mix, HiSeq ASP and
HiSeq GM improvement. MiSeq will be only modestly
dilutive to margins and management does foresee
material changes in R&D or SG&A trend in the near
term."
At the moment, Morgan Stanley has an Overweight rating on the company's stock. On Monday, Illumina closed the day at $72.13.
Market News and Data brought to you by Benzinga APIs© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Comments
Loading...
date | ticker | name | Price Target | Upside/Downside | Recommendation | Firm |
---|
Posted In: Analyst ColorAnalyst RatingsHealth CareilluminaJay FlatelyLife Sciences Tools & ServicesMorgan Stanley
Benzinga simplifies the market for smarter investing
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
Join Now: Free!
Already a member?Sign in