11:28 AM EDT, 08/14/2024 (MT Newswires) -- Illumina's ( ILMN ) lack of a guide for 2025 left some investors disappointed even though it gave targets for 2025 to 2027, RBC Capital Markets said in a note Wednesday.

The issued targets include annual earnings-per-share growth of double-digit to teens and revenue growth accelerating to high single digits by 2027, the firm noted.

RBC maintained Illumina's ( ILMN ) outperform rating and $242 price target, saying that the 2025 to 2027 targets "provide a floor in the stock" and near-term number beats should result in long-term multiple expansion.

"[Illumina's ( ILMN )] focus on 'total' cost of sequencing is a knock to competition, expands their addressable market, and helps simplify the [long-term] story," RBC said.

Shares of Illumina ( ILMN ) were up 2.5% in recent Wednesday trading.

Price: 122.66, Change: +2.94, Percent Change: +2.46