Is Illumina Stock a Buy at Nearly 40 Times Earnings? 1 Analyst Thinks So

Is Illumina Stock a Buy at Nearly 40 Times Earnings? 1 Analyst Thinks So

Every day, Wall Street analysts upgrade some stocks, downgrade others, and "initiate coverage" on a few more. But do these analysts even know what they're talking about? Today, we're taking one high-profile Wall Street pick and putting it under the microscope...

2017 has been a good year for owners of Illumina (NASDAQ: ILMN) stock. Shares of the genetic testing equipment maker are up nearly 50% since the year began, and received a healthy 14% bump in stock price after reporting fiscal second-quarter earnings last week.

But one analyst thinks Illumina could go up even more. Here are three things you need to know about that.

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Source: Fool.com