Illumina jumps to another new high on expansion plans, analyst praise

|By:, SA News Editor

Illumina (ILMN +8%) rises to new 52-week highs after unveiling a strategic roadmap for market expansion after the bell yesterday, capping a week filled with positive announcements.

ILMN is enjoying some analyst love: J.P. Morgan adds the stock to its Focus List and raises its target price to $190 from $120 with little to derail momentum and estimates that remain conservative, and BAML ups its target to $165 from $125.

The sell-side excitement is "the type of stuff that could make for a nice multi-day or multi-week hold," Notable Calls remarks.