Millennium Pharmaceuticals, Inc. (MLNM) Message Board

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Biotech / Medical : Millennium Pharmaceuticals, Inc. (MLNM)

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From: Icebrg	3/31/2005 5:04:58 PM
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Millennium Pharmaceuticals "equal weight," target price reduced Thursday, March 31, 2005 9:58:05 AM ET Morgan Stanley NEW YORK, March 31 (newratings.com) - Analysts at Morgan Stanley maintain their "equal weight" rating on Millennium Pharmaceuticals (MLNM.NAS). The 12-month target price has been reduced from $13 to $12. In a research note dated March 24 and published yesterday, the analysts mention that cost reduction initiatives, a recovery in Velcade’s sales and an improvement in the product pipeline would act as catalysts for the company's share price in the near future. The analysts believe that potential restructuring measures could boost Millennium Pharmaceuticals' EPS growth by 38%-91%. Execution risks and uncertainty regarding the timeframe for these measures, however, justify the "equal weight" rating, although the current valuation of the company's stock is attractive, according to Morgan Stanley.

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