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Strategies & Market Trends : Galapagos Islands -- Ignore unavailable to you. Want to Upgrade?

To: Jorj X Mckie who wrote (41971)	6/11/2003 11:49:40 AM
From: Frederick Langford	Respond to of 57110

Merrill Lynch says biotechs poised to move higher; CSFB raises targets Merrill Lynch says the recent bout of profit-taking is probably over and biotechs are now likely to move higher; firm cites the following factors: 1) money flow into mutual funds has turned increasingly positive while new stock issuance has remained minimal, 2) the FDA has become more accommodating, 3) the recent spat of positive news flow should continue, 4) valuations remain well within the historical range, and 5) window dressing into the end of the qtr should bode well for the group. Separately, CSFB raised their price targets on AMGN, IDPH, GENZ, BGEN, MEDI, DNA, HGSI, MLNM, NBIX, ICOS, MYGN, and GILD. Fred