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By a GenomeWeb staff reporter

NEW YORK (GenomeWeb News) – Citigroup has initiated coverage of Illumina with a "hold" rating on its stock and a price target of $52.

The bank said that its rating is based on Illumina's valuation relative to peers and added that its year-to-date stock performance, which is up nearly 50 percent, reflects the firm's positive growth prospects for its sequencing business but may not fairly discount the risk from its competitors.

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