Markets & Finance

CS First Boston Cuts Applera-Celera to 'Hold'


Credit Suisse First Boston downgraded Applera-Celera Genomics (CRA

) to hold from buy.

Analyst Meirav Chovav says the announcement of major restructuring of Applera's online business and notes the company will receive a low to mid single digit royalty stream on new revenues generated by Knowledge Business after July 1. The arrangement transforms Applera from a current revenue generator into a very early stage drug discovery company, and that doing so reduces the current value of the company. Chovav sees a $1.77 fiscal 2002 (June) loss, and a $2.00 fiscal 2003 loss. He cut the $25 target to $20.


Soul Searcher
LIMITED-TIME OFFER SUBSCRIBE NOW

(enter your email)
(enter up to 5 email addresses, separated by commas)

Max 250 characters

Sponsored Financial Commentaries

Sponsored Links

Buy a link now!

 
blog comments powered by Disqus