Stock Talk
Corixa atop therapy trend, analyst
writes
by Greg Heberlein
Seattle Times business reporter
Here are recent brokerage-house and investment-advisory
opinions affecting Pacific Northwest stocks. The Seattle Times
neither advises against nor recommends purchase of these stocks.
Stock symbols and stock quotations are listed in parentheses, the
latter reflecting prices when reports were issued. Ratings
definitions vary, but most companies have five rankings, which
are, from highest to lowest:
-- Strong buy, buy or highest.
-- Buy/accumulate, accumulate, mild buy, outperform, attractive
or above average.
-- Neutral, hold, reasonably priced, average or market performer.
-- Mild sell, unattractive, below average or underperform.
-- Sell, lowest.
Corixa (CRXA, $8.50) is positioned to take advantage of the
trend toward vaccine-like products as therapeutics, writes
Andrew Heyward, director of research at Seattle's Ragen
MacKenzie brokerage. The Seattle company has shown progress
in a treatment for severe psoriasis and a possible vaccine for
breast cancer.
The stock is rated "accumulate." With many large pharmaceuticals
partners, it is controlling its cash needs. The chief executive and
founder is Steven Gillis, an Immunex founder. (Report issued Jan.
22)
***
Alaska Air (ALK, $45.438).
Analyst (1): Peter Jacobs, Ragen MacKenzie.
Recommendation: Hold.
Comment: Analyst's 1999 profit estimate raised to $5.25 a share
from $4. (1/28)
Analyst (2): Warren Thorpe, Value Line.
Recommendation: Above average.
Comment: Strong profit prompts upgrade to "above average"
from "average." (1/29)
***
Airborne Freight (ABF, $37).
Analyst: Mary Fleckenstein, Ragen MacKenzie.
Recommendation: Hold.
Comment: Analyst's 1999 profit estimate raised to $2.85 a share
from $2.60. (2/2)
Analyst (2): Jamelah MacLean, Piper Jaffray.
Recommendation: Strong buy.
Comment: Price target moves to $45-$50 from $35-$40. (2/2)
***
Cavanaughs Hospitality (CVH, $9.938).
Analyst: Mary Fleckenstein, Ragen MacKenzie.
Recommendation: Accumulate.
Comment: The quarterly profit was good. "The stock represents a
good value at current levels." (2/1)
***
Columbia Banking System (COLB, $16.50).
Analyst: Melba Bartels, Ragen MacKenzie.
Recommendation: Accumulate.
Comment: Rating raised from "hold" because the stock is
"attractive at these levels;" 12-month target price: low $20s. (2/2)
***
Expeditors International (EXPD, $45.188).
Analyst: Thomas Carley, D.A. Davidson.
Recommendation: Outperform.
Comment: These shares are attractive. Twelve-month target price
is $50. (2/10)
***
Go2Net (GNET, $100).
Analyst: Jeff Goverman, Pacific Crest Securities.
Recommendation: Strong buy.
Comment: Pullback is "buying opportunity." (2/9)
***
Immunex (IMNX, $149).
Analyst: Andrew Heyward, Ragen MacKenzie.
Recommendation: Hold.
Comment: All goes well, but the stock already reflects the good
news. (2/3)
***
Itron (ITRI, $9.625).
Analyst: John Rogers, D.A. Davidson.
Recommendation: Neutral.
Comment: The lack of growth in the automated meter-reading
business raises concern. (2/8)
***
RealNetworks (RNWK, $70.25).
Analyst: Mary Ryan, Ragen MacKenzie.
Recommendation: Hold.
Comment: Profitability could come in the third quarter, a quarter
earlier than expected. (1/27)
***
SonoSite (SONO, $11.375).
Analyst: Jamelah MacLean, Ragen MacKenzie.
Recommendation: Strong buy.
Comment: Price target for this developing company is $20 to $30
over the next five years. (2/4)
***
Sonus Pharmaceuticals (SNUS, $6.50).
Analyst (1): Bob Toomey, Piper Jaffray.
Recommendation: Accumulate.
Comment: Long-term outlook for EchoGen remains unchanged.
(2/2)
Analyst (2): Bruce Jacobs/Jonathan Osgood, BT Alex. Brown.
Recommendation: Market perform.
Comment: Word from regulators on EchoGen expected by
mid-April. (2/2)
Analyst (3): Alex Zisson/Corey Davis, Hambrecht & Quist.
Recommendation: Hold.
Comment: A third-quarter launch of EchoGen "is not
unreasonable." (2/2)
***
SpaceLabs Medical (SLMD, $20).
Analyst: Thomas Curley, D.A. Davidson.
Recommendation: Outperform.
Comment: Cost-cutting, new products position SpaceLabs, a
takeover candidate, for a big 1999. (2/5) |
