Will This Upgrade Help Illumina (ILMN) Stock Today?

NEW YORK (TheStreet) -- Illumina (ILMN) has been upgraded to "buy" from "hold" with a $205 price target, Maxim Group said Wednesday. The firm justified the revision by noting clinical customers are accelerating adoption and the company is seeing better penetration of HiSeq X Ten.

SELL NOW: If you own any of the 900 stocks that TheStreet Quant Ratings has identified as a 'Sell'...you could potentially lose EVERYTHING in the next 6-12 months. Learn more.

After the bell Tuesday, the company reported net income of 53 cents a share and revenue of $420.78 million over the three months to March. Analysts polled by Thomson Reuters had forecast net income of 44 cents a share and $391.76 million in revenue. 

Management said it has increased full-year guidance to 21% to 23% revenue growth and earnings between $2.10 and $2.15 a share. Analysts had forecast 18.2% revenue growth and earnings of $2.05 a share. 

Must Read: Warren Buffett's 10 Favorite Growth Stocks

STOCKS TO BUY: TheStreet's Stocks Under $10 has identified a handful of stocks that can potentially TRIPLE in the next 12-months. Learn more.

More from Markets

Three Big Factors That Rocked the Stock Market Tuesday

Three Big Factors That Rocked the Stock Market Tuesday

Dow Tumbles Over 400 Points; S&P 500 and Nasdaq Also Finish Lower

Dow Tumbles Over 400 Points; S&P 500 and Nasdaq Also Finish Lower

Caterpillar Bulldozes Industrial Sector With Bad News on Earnings Call

Caterpillar Bulldozes Industrial Sector With Bad News on Earnings Call

Jim Cramer: If You're Afraid of the 10-Year Yield, Go to Cash

Jim Cramer: If You're Afraid of the 10-Year Yield, Go to Cash

Eli Lilly CEO Expresses Confidence in New Rheumatoid Arthritis Drug

Eli Lilly CEO Expresses Confidence in New Rheumatoid Arthritis Drug