CEPH - CEPHALON Message Board

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Biotech / Medical : CEPH - CEPHALON

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To: Icebrg who wrote (49)	8/5/2003 3:15:08 PM
From: Icebrg	of 109

Cephalon "overweight," target price raised -update Updated Tuesday, August 05, 2003 10:59:17 AM ET J.P. Morgan Securities NEW YORK, August 5 (New Ratings) - Analysts at JP Morgan Securities reiterate their “overweight” rating on Cephalon, Inc (CEPH), while raising their estimates for the company. The target price has been raised from $54 to $58. In a research note published this morning, the analysts mention that the company’s results in the last quarter were impressive. JP Morgan expects the FDA meeting on September 25 to mainly decide on the wordings of the inidications of Provigil in the treatment of "sleepiness associated with disorders of sleep and wakefulness." The analysts believe that the indication is likely to be accretive to the company’s 2004 revenues. JP Morgan has raised its EPS estimate for 2003 from $1.50 to $1.51.

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