By Robert W. Baird
NEW YORK, July 2 (newratings.com) - Analysts at Robert W Baird maintain their "outperform" rating on Illumina Inc (ticker: ILU), while reducing their estimates for the company. The target price has been reduced from $43 to $40.
In a research
note published this morning, the analysts mention that the company expects its 2Q09 revenues to fall short of expectations due to softness in microarrays. Illumina (NASDAQ:
ILMN -
news) expects significant new sequencing orders from the NIH stimulus plan going forward. The company has reduced the bottom end of its current year revenue guidance. The EPS estimates for FY09 and FY10 have been reduced from $0.92 to $0.79 and from $1.22 to $1.15, respectively.
© 2009 New Ratings
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