RBC Capital Raises Illumina Price Target to $310

Key Facts

1RBC Capital increased its price target for Illumina shares to $310 from $230 while maintaining a Buy/Outperform rating.

2The new valuation is driven by strong clinical sales and the company's position as a beneficiary of AI technology.

RBC Capital increased its price target for Illumina shares to $310 from $230 while maintaining a Buy rating. Investing.com reported that the upgrade follows the company's strong financial performance and a positive outlook for clinical sales growth.

The new valuation is driven by Illumina's position as a primary beneficiary of AI technology integration, despite near-term noise in customer purchasing patterns. ILMN closed at $273.04 on October 2, 2026, trading 2.54% below its 52-week high with a market capitalization of $41.3 billion on that date.

The company reported $1.16 billion in revenue for the second quarter of 2026, exceeding earnings estimates by $0.08 per share. According to Yahoo Finance, Illumina generated $207 million in earnings during the quarter, supported by a 9.40% year-over-year increase in revenue.