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Non-Tech : Nabi (NABI)
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To: tom dooly who wrote (113)3/27/1997 5:12:00 PM
From: The BayWatcher   of 354
 
To all: DLJ removed NABI from its recommended list
but kept a buy rating; it also lowered the target
price to $15 from $21. In a biotech conference
call today, they noted that the recent announcement
coupled with last year's decision to discontinue
tests on another drug has caused Wall Street to
lose confidence in NABI. I remember that the stock
fell even more sharply after last year's
announcement and eventually worked itself back up
to 12.5. Although it will take some time, I
believe NABI will be back to double digits.
Unfortunately, the high hopes we had after the
investor conference have been blown away by the
news this week.
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