Prudential Equity Group reiterated a “overweight” rating on Genentech (nyse: DNA) and raised its target price to $100 from $81 and raised earnings-per-share estimates for fiscal 2005 and 2006. “Following the swell of positive oncology data presented at the American Society of Clinical Oncology earlier this month and positive top-line Lucentis data, we believe 2005 is on track for earnings growth of nearly 40% and anticipate a wave of accelerating earnings growth to exceed 50% in 2006, while 2007 should continue to enjoy over 30% growth. This represents potentially five consecutive years of earnings growth in excess of 30% on a non-GAAP basis,” the research firm said. Earnings per share for 2005 and 2006 are now estimated at $1.15 and $1.77, up from $1.14 and $1.70, respectively. Third-quarter EPS for the third quarter 2005 was raised a penny to 29 cents.
http://www.forbes.com/technology/sciences/2005/06/01/0601automarketscan07.html
ScienceBlog.com has no paywalls, no sponsored content, and no agenda beyond getting the science right. Every story here is written to inform, not to impress an advertiser or push a point of view.
Good science journalism takes time — reading the papers, checking the claims, finding researchers who can put findings in context. We do that work because we think it matters.
If you find this site useful, consider supporting it with a donation. Even a few dollars a month helps keep the coverage independent and free for everyone.