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Biotech / Medical : Biotech Valuation

CRSP 54.88

-3.2%

11:01 AM EST

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To: Icebrg who wrote (8652)	6/17/2003 12:05:11 PM
From: Icebrg	Read Replies (2) of 52153

RESEARCH ALERT-BofA raises Genentech price target to $80 Tuesday June 17, 12:00 pm ET [Second time lucky?] NEW YORK, June 17 (Reuters) - Banc of America Securities (News - Websites) on Tuesday said it raised its price target for shares of biotech firm Genentech (NYSE:DNA - News) to $80 from $72, citing growing potential for its Avastin cancer drug. "Avastin represents a huge step forward for colorectal cancer patients," analyst Michael King said in a research note. Shares of Genentech closed at $74.60 on the New York Stock Exchange (News - Websites) on Monday.

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