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Biotech / Medical : Hoechst (HOE)
HMR 1.280-1.5%Nov 3 3:56 PM EST

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To: Solid Play who wrote (21)5/27/1998 3:24:00 PM
From: Teddy   of 42
 
Upgrade in Germany:
Wednesday May 27, 3:01 pm Eastern Time

RESEARCH ALERT - JP Morgan raises Hoechst

LONDON, May 27 (Reuters) - J.P. Morgan said on Wednesday it had upgraded its rating of shares in German chemical group Hoechst AG to a ''buy'' from ''market performer,'' and had raised its price target to 110 marks.

LONDON, May 27 (Reuters) - J.P. Morgan said on Wednesday it had upgraded its rating of shares in German chemical group Hoechst AG (HOEG.F) to a ''buy'' from ''market performer,'' and had raised its price target to 110 marks.

The investment bank said Hoechst stock had underperformed the Morgan Stanley Capital International Europe index by 31 percent last year but the worst news was now behind the shares.

Hoechst shares closed in Frankfurt down 2.45 marks at 78.9.

biz.yahoo.com
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