Markets & Finance

First Albany Lifts Professional Detail Rating

First Albany upgraded Professional Detail (PDII) to strong buy from buy.

Analyst Kevin Berg says with recently announced Novellus and Santen Pharmaceutical agreements, Professional Detail has taken another step towards partner status with the pharmaceutical industry. Although there's always the risk of losing the contracts, Berg thinks the upside potential in the company's business model, management's assertiveness, the timely redeployment of the GlaxoSmithKine salesforce and the positive macro trends driving this industry far outweigh the risks. He sees $2.45 2001 EPS and $3.23 for 2002.

Berg notes that no new wins were modeled into the 2002 EPS estimate, providing a significant upside potential to his numbers. He has a $91 target.

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