JEB, I think few analysts are really capable of making upgrade or downgrade recommendations that are accurate. Biogen is a good case in point: there have been upgrades and downgrades over the past two years, but the company share price has just appreciated the whole while. The upgrades and downgrades didn't even occur at shortterm maxima and minima.
I think brokerage analysis is interesting for the facts, but not for the opinion. The forcasting is not usually very good (with a couple of notable exceptions - e.g. May Kin Ho sp?).
Better opinions can be had from V1, Peter Suzman, Rick, and others here.
My own opinion, FWIW, is that if Avonex continues to gain market share and the market increases in general the way it has, the company will see strong earnings growth for the next two years. At that point, LFA3TIP, CVT124, 5C8 and VLA4 will begin to roll into the marketplace and earnings will accelerate to another order of magnitude. |
