Under the FWIW heading, brokerages pushing biotech... although I am rooting for Lehman. <g>
By Friedel Rother, FTMarketWatch.com 12:30:00 PM GMT Dec 10, 2001
LONDON (FTMW) - There are plenty of buying opportunities in the pharmaceutical and biotechnology sectors, according to a research report out from Morgan Stanley.
"We find it surprising that the stocks are as cheap as they are relative to historical precedents," wrote analyst Duncan Moore.
He picked out France's Sanofi-Synthelabo [FR:012057, News, Chart, Research] as a "clear winner" and said GlaxoSmithKline [UK:GSK, News, Chart, Research] was oversold.
UBS Warburg also picked out Sanofi-Synthelabo as a top performer, upgrading the stock to "strong buy" from "buy" and raising its price target to €95 from €85.
Meanwhile, biotech firm Oxford GlycoSciences [UK:OGS*, News, Chart, Research] was highlighted by Lehman as an undervalued stock that could be on its way back up.
"News flow in coming months should drive price towards our target of £17," Lehman said.
On Monday, Oxford Glyco was trading up 1.6 per cent at 615p, having fallen more than 60 per cent in the past year.
The brokerage currently rates Oxford Glyco as a "strong buy"....
(edit)
*That's OGSI on the Nas, if I can be allowed the shameless plug. |
