Illumina gets Street support after probable GRAIL divestment
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At least one Wall Street firm is sticking behind its endorsement of Illumina (NASDAQ:ILMN) despite Monday's FTC order that the company divest its acquisition of GRAIL.
Canaccord Genuity has reiterated its buy rating for the stock and $300 price target (~30% upside based on Monday's close).

Analyst Kyle Mikson does not see a huge impact from a divestment on Illumina (ILMN).
"Although we understand the merits of the GRAIL business, it appears most investors would prefer the asset to be removed from Illumina (ILMN)," he wrote. "We believe ILMN shares will appreciate as the divestiture (which appears highly likely) draws closer."
Mikson added that the shares are attractive now given the company's market leadership and long-term growth potential.
The GRAIL divestiture order comes as investor Carl Icahn is still in a proxy fight with company management.