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Biotech / Medical : Amgen Inc. (AMGN) -- Ignore unavailable to you. Want to Upgrade?

To: Tweaker who wrote (596)	7/15/1998 10:55:00 AM
From: Lel H	Respond to of 1906

Yahoo! financial news indicated that JP Morgan started Amgen as a buy today. The analysts are slowing making their way back to Amgen fold - let's hope the recommendations remain positive. The text of the Yahoo! news from the Reuters news service: RESEARCH ALERT-JP Morgan starts Amgen a buy NEW YORK, July 15 (Reuters) - J.P. Morgan analyst Franklin Berger initiated coverage of Amgen Inc. with a buy rating and gave the company a 12-month price target of $82 a share. -- Shares, which had been trading slightly lower, quickly jumped higher in volatile early trading, touching a new 52-week high of 70-7/8. -- Berger said he expects Epogen, which he called "the No. 1 biotech blockbuster," to help push revenues higher and rebuild confidence in the stock. -- "While it is not the Amgen of past, we think the risk/reward ratio is now highly favorable for investors," he said in a research note. -- "We regard Amgen as a classic turnaround story." -- said the negatives surrounding the use of Epogen in dialysis have been "completely rescinded or mollified" and forecast revenue growth returning to 12 percent by year-end 1998.