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

Communications

Industry Products

Media Services

Follow Us

Markets & Finance

Prudential Cuts Genentech to Neutral


From Standard & Poor's Equity Research

Prudential downgraded Genentech (DNA) to neutral from overweight, noting reduced Avastin market opportunity, weaker top-line growth, and decelerating earnings per share (EPS) growth.

Analyst Ron Ellis anticipates weakness for the shares based on lower-than-expected product sales, particularly for Avastin. He says Avastin sales totaled $423 million in the second quarter vs. his $442 million estimate. He ups his $1.80 2006 EPS estimate to $1.88, cuts his $2.53 2007 EPS estimate to $2.40, and moves his $94 stock price target to $84.


LIMITED-TIME OFFER SUBSCRIBE NOW
 
blog comments powered by Disqus