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

CSFB Cuts Andrx to Hold

Credit Suisse First Boston downgraded its rating on shares of Andrx Group (ADRX) to hold from buy after the company reported $0.06 fourth quarter EPS (pro forma).

Analyst David Maris says fourth quarter EPS was well below his estimates and Street consensus. He says the quarter was particularly difficult with severe disappointments. He says the concern could carry through 2002 if the company doesn't deliver on several important branded, generic launches. He notes the company is facing patent challenges, court delays. He says management is in transition, looking for a permanent CEO. Maris thinks management is struggling with the execution of transition to generic/branded hybrid company during a gap in new product flow. He cuts his 2002 $3.90 EPS estimate to $2.78 and his $4.46 2003 estimate to $3.68. Maris has a $39.50 12-month price target.

blog comments powered by Disqus