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Biotech / Medical : Pharmacia & Upjohn (PNU)
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To: Earl Graham who wrote ()7/5/1997 9:19:00 AM
From: Chuck. Edwards   of 43
 
Market maven Bob Stovall recommended PNU on Wall Street Week July 4, just a day after DLJ upgraded the stock.

I think PNU is going to move now. Like a lot of other people, I have been searching for laggard stocks in sectors that have had an overall PE expansion. When people decide to buy drug stocks, they buy the high-growth Pfizers and Lillys first. Then they move down the food chain to recent turn-arounds like Bristol-Meyers Squibb. After these run up (though I think BMY still has room to go), they descend on the would-be turnarounds, like PNU.

I have noticed increased activity and interest in PNU on other boards. I'm going in on Monday. With PNU's yield of 3 percent, I can afford to wait for the turnaround, though I suspect that we won't have to wait long for the stock to move in anticipation of better times..
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