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Home » Tools & Technology » Sequencing » UBS Downgrades Illumina to Neutral; Expresses Doubts About Grail Deal

UBS Downgrades Illumina to Neutral; Expresses Doubts About Grail Deal

Sep 22, 2020
|
staff reporter

NEW YORK – Investment firm UBS said on Monday that it is downgrading Illumina's stock from a 'buy' to a 'neutral' rating, following Illumina's announcement that it plans to acquire cancer diagnostics firm Grail for $8 billion in cash and stock.

UBS also lowered its price target for Illumina's stock to $285 from $390 per share.

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