In LONDON item "RESEARCH ALERT-Dresdner downgrades European
pharma companies", please read in second paragraph ...cut the
target price for Glaxo SmithKline to 1,816 pence from
1,959p... instead of ...cut the target price for Glaxo
SmithKline to 1,959 pence from 1,816p... (corrects
figures)
A corrected story follows.
LONDON, Jan 16 (Reuters) - Dresdner Kleinwort Wasserstein
said on Wednesday it had downgraded the European pharmaceutical
sector to "neutral" from "overweight" saying average sales
growth for the group should decrease to 6.9 percent by 2006.
Dresdner analyst Anthony Colletta said he had cut the target
price for Glaxo SmithKline to 1,816 pence from 1,959p,
reiterating a "hold" rating. He said he had also cut price
targets for Novo Nordisk to 360 Danish crowns from 381
crowns and Schering AG to 72 euros from 73, but
repeated "buy" ratings for both stocks.
Dresdner said earlier on Wednesday it had cut its rating on
Swiss drugs group Roche Holding to "reduce" from
"hold", France's Aventis SA to "add" from "buy" and
Sanofi-Synthelabo to "hold" from "buy".
"A number of confluent pressures will decrease large cap
pharmaceutical sales growth over the next two to three years,"
Colletta said.
((Natalie Waters, London Newsroom +44 207 542 2192 fax +44 207
542 2120, uk.equities.news@reuters.com))
For research reports, go to Reuters Broker Research on Reuters
Web at rbr1.session.rservices.com.
@ Pichel scheinst mir ja noch optimistischer als ich bzgl. der Schering zu sein..
mfg
Twinson_99
de.geocities.com/your_investor