Illumina Upgraded to Buy as UBS Nearly Doubles Price Target to $260

UBS upgraded Illumina (ILMN) from Neutral to Buy on September 9, 2026. The firm increased its price target for the stock to $260 from $135. This new target represents a 23% upside from the previous closing price of $211.06.

The upgrade follows strong second-quarter financial results reported on July 30, 2026. Illumina raised its full-year 2026 revenue guidance to a range of $4.60 billion to $4.64 billion. The company also increased its non-GAAP earnings forecast to between $5.30 and $5.40 per share.