For LIFE, following the recent underperformance, we believe the stock could set up well into 2H given the upside potential to EPS this year and stability in the core (80% consumables and service) business. ILMN remains, by far, the best growth story in the space, and we see little risk to revenues this year (JPMe +21%) from continued uptake of HiSeq and a partial recovery in the GWAS markets, although as we have previously noted, gross margins could see some modest 2H weakness, depending on magnitude of the upgrade cycle, although we have factored this into our current estimates.
Company reports 2Q 7/29
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