Top Stock to Buy #4 – Illumina (ILMN)
Life-science tools and services company Illumina’s (NASDAQ:ILMN) products provide genetic analysis, including gene sequencing, genotyping, gene expression and molecular diagnostics.
Credit Suisse raised its price target to $72 from $59 after the company reported Q1 2013 earnings of $0.46 versus a consensus estimate of $0.38. The Credit Suisse analyst said, “We reiterate our Outperform rating and consider ILMN our top pick.”
Technically, the stock is in a powerful bull trend and recently broke to new highs on a continuation gap. It is under heavy accumulation with a short-term trading target of $70 and long-term target of $72-plus.