Markets & Finance

DB Alex Brown Boosts Guidant to 'Strong Buy'

DB Alex Brown upgraded Guidant Corp. (GDT) to strong buy from buy.

Analyst Sheryl Zimmer says the agreement gives Guidant the ability to sell a paclitaxel coated Penta stent. She sees this ingenious (though unusual) agreement as an important positive as it meaningfully accelerates Guidant's drug-coated stent development -- putting them only six months behind Johnson & Johnson.

Zimmer says this news, coupled with recent positive developments for its Ancure AAA stent graft, indicates Guidant may finally be getting themselves back on a growth trajectory. She has a $42 target.

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