Harold and all:
Following is another recommendation. It gives the target as 72, not far from where it's been and hopefully is returning to:
> > > RESEARCH ALERT-Piper Jaffray starts Biogen (NASDAQ:BGEN)
Reuters, Wednesday, September 23, 1998 at 12:33
NEW YORK, Sept 23 (Reuters) - Piper Jaffray on Wednesday
said it initiated coverage on Biogen Inc. with a buy rating and
a price target of $72.
Analyst Peter Ginsberg, in a research note, said Biogen is
"leading the biotechnology sector rebound as the only one of
the top three independent biotech companies experiencing 20
percent-plus sales growth."
He projected earnings per share of $1.80 in 1998 and $2.40
in 1999.
Shares traded at 65, off 1-5/8.
Copyright 1998, Reuters News Service < < <
The trouble with recommendations is that when the targets are reached, the inevitable downgrades from "STRONG BUY" or the like to "BUY" or "HOLD" or the ever-loved "ATTRACTIVE", get more coverage than the original recommendations and result in price drops. But, I guess that's just reality.
Steve |
