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Biotech / Medical : Elan Corporation, plc (ELN)

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To: William Partmann who started this subject3/23/2004 8:56:59 AM
From: david staton  Read Replies (1) of 10345
 
Morgan Stanley
Overweight - stock's total return is expected to exceed the average total return of the analyst's industry (or industry team's) coverage universe, on a risk-adjusted basis, over the next 12-18 months

07:44 ELN Elan Corp resumed with an Overweight at Morgan Stanley (18.40 ) -- Update --

Morgan Stanley resumes coverage on ELN with an Overweight rating and $30 target; firm's investment thesis is that: 1) the co's R&D platform is more valuable than expectations (mainly Antegren), 2) successful restructuring of the balance sheet will result in less financial risk, 3) legal risks will diminish without material harm to the co, and 4) mgmt has the skills to build an integrated pharma/biotech co.
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