NEW YORK (TheStreet) -- Illumina (ILMN) shares are up 0.3% to $179.33 on Monday after having coverage initiated with an "equal weight" rating and $190 price target by analysts at Morgan Stanley (MS) .
The life sciences and diagnostic tool manufacturer's price target represents a 6% upside from its current price.
Two weeks ago the company announced that it has entered into a partnership with pharmaceutical companies AstraZeneca (AZN) , Janssen Biotech, and Sanofi (SNY) to supply them with next generation sequencing oncology test systems.
TheStreet Ratings team rates ILLUMINA INC as a Buy with a ratings score of B. TheStreet Ratings Team has this to say about their recommendation:
"We rate ILLUMINA INC (ILMN) a BUY. This is driven by a few notable strengths, which we believe should have a greater impact than any weaknesses, and should give investors a better performance opportunity than most stocks we cover. The company's strengths can be seen in multiple areas, such as its robust revenue growth, notable return on equity, expanding profit margins, good cash flow from operations and compelling growth in net income. We feel these strengths outweigh the fact that the company has had generally high debt management risk by most measures that we evaluated."
Highlights from the analysis by TheStreet Ratings Team goes as follows: