Bloomberg the Company

Bloomberg Anywhere Login

Bloomberg

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.

Company

Financial Products

Enterprise Products

Media

Customer Support

  • Americas

    +1 212 318 2000

  • Europe, Middle East, & Africa

    +44 20 7330 7500

  • Asia Pacific

    +65 6212 1000

Follow Us

Industry Products

Markets & Finance

Deutsche Bank Upgrades Invitrogen to 'Buy'


Deutsche Bank upgraded Invitrogen (IVGN) to buy from hold.

Analyst Cheri Walker says the new COO/president and the new CFO of the medical research products company gave a solid business review with a reasonable cost structure that accelerates earnings above revenue growth. Walker says management is committed to maintaining operating margins of 23%-24%, rather than the contraction indicated in its third quarter conference call. She notes the company sees $2.05 2003 earnings per share, at the high end of her expectations, and 12% revenue growth to $728 million.

Walker raised her $161.4 million fourth quarter revenue estimate to $162.4 million to account for a contribution from recently acquired Informax; she also cut her 45 cents fourth quarter earnings per share estimate to 41 cents due to additional costs. Finally, she lifted her $1.99 2003 earnings per share estimate to $2.02 and raised her $33 target to $35.


The Aging of Abercrombie & Fitch
LIMITED-TIME OFFER SUBSCRIBE NOW
 
blog comments powered by Disqus