November 23, 1999 08:54
SDL Inc., Ivax Receive Price Target Boosts From Gruntal (SDLI)
(NewsTraders.com)--SDL Inc. (SDLI) received new price targets today from Gruntal Co., which lifted its intermediate-term target to $207 from $145 and its long-term objective to $288 from $193.
SDL remains rated with the brokerage's top-tier "outperform" recommendations.
Shares of the San Jose, Calif.-based semiconductor concern jumped $3.00 to $170.00 in recent trading.
In a separate move, Gruntal also lifted its price targets for "outperform"-rated Ivax Corp. (IVX), increasing the intermediate-term goal to $27 from $22 and that for the long term to $35 from $26.
Of note, yesterday Ivax announced that it had received an additional patent on its proprietary compound for respiratory conditions.
In addition, the brokerage lifted its earnings-per-share estimates for 2000-2002 to $0.77, $0.97 and $1.27 from $0.65, $0.85 and $1.15, respectively.
Shares of Miami's Ivax, which develops pharmaceuticals, recently slipped $0.06 to $21.19.
Further information on the brokerage decisions was not readily available. |
