William L. Moore
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William L. Moore in Insider trading,

Illumina Stock Shines Over The Past Quarter, Argus Raises Price Target

Argus has boosted its price target on Illumina, Inc.  shares by $10 to $185 following the second quarter results that exceeded the Street estimate. The brokerage retained its rating of Buy.

Analyst Jacob Kilstein, commenting on the earnings, pointed out the stock witnessed 20 percent growth over the last quarter, outperforming the broader S&P 500 index which rose 6 percent.

Illumina reported its results on July 26 revealing lower-than-projected operating costs. Adjusted EPS rose 6 percent to $0.86, which was $0.13 more than the Consensus estimate of $0.73. Aside from that, the company reaffirmed its 12 percent revenue upside potential in the current year and boosted its adjusted EPS projection from $3.35 - $3.45 to $4.38 - $3.58 for the current year.