NEW YORK (GenomeWeb News) – Wells Fargo Securities on Monday initiated coverage of Illumina with an Outperform rating, saying the company is "the clear market leader in next-generation sequencing, which we believe will be the primary tool enabling the application of personalized medicine."

The investment bank valued the San Diego-based company's shares in the $90 to $95 range and estimated its EPS for full-year 2013 at $1.72 on revenues of $1.38 billion.

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