Bank of America has reduced its price target for Illumina (ILMN, Financial) from $90 to $75, citing a persistently negative outlook for the life sciences and diagnostic tools sector. The company continues to be rated as Underperform.
The downgrade comes ahead of earnings reports and highlights several challenges, including policy shifts initiated by the previous administration. Notably, Illumina and similar companies are feeling the pressure from recent budget reductions at the National Institutes of Health and increased global tariffs. These factors, coupled with broader macroeconomic worries, particularly relating to China, contribute to a cautious stance on the sector.
