Illumina raised to a buy

Analysts at Merrill Lynch upgraded Illumina, Inc. (ILMN) to "buy" from "neutral". Merrill Lynch currently has a $175 price target on the stock, which suggests 6.2% from the current share price. The stock is up 16.5% Tuesday after the company announced a string of news, including the launch of NovaSeq Series. NovaSeq Series is exciting because one day it will allow a genome to be sequenced for around $100. This is a big development considering less than a decade ago such an act would cost several million dollars. The company also announced it will partner with International Business Machines (IBM) to include IBM's Watson supercomputer into its tumor sequencing.