Bloomberg Anywhere Remote Login Bloomberg Terminal Demo Request


Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world.


Financial Products

Enterprise Products


Customer Support

  • Americas

    +1 212 318 2000

  • Europe, Middle East, & Africa

    +44 20 7330 7500

  • Asia Pacific

    +65 6212 1000


Industry Products

Media Services

Follow Us

Bloomberg Customers

Markets & Finance

Morgan Stanley Upgrades Genzyme to Strong Buy

Morgan Stanley raised its rating on Genzyme (GENZ), a health diagostics products company, to strong buy from outperform. On Monday, the Food and Drug Administration requested additional data tied to the company's application to market Fabrazyme.

Analyst Caroline Copithorne said she upgraded the stock on improving fundamentals, the recent pullback in the stock price and valuation. She said that the FDA's response letter on the company's biologics license application for Fabrazyme clarifies additional steps needed for approval in U.S. and eliminates potential uncertainty.

However, she cut her 2002 earnings per share estimate to $1.52 from $1.61 and her 2003 estimate to $2.12 from $2.21 to reflect the delay in Fabrazyme approval. She sees $1.22 earnings per share in 2001. She reduced her price target on the stock to $72 from $76.

blog comments powered by Disqus