Markets & Finance

BoA Upgrades Biosite Diagnostic to 'Strong Buy'

Banc of America upgraded Biosite Diagnostic (BSTE) to strong buy from buy.

Analyst Ted Huber says he now expects the company to post b-type natriuretic peptide (BNP) revenues higher than previous expected; he raised the 0.18 second quarter earnings per share estimate to $0.19; he has a new $0.70 2002 EPS estimate, which assumes BNP revenue of $31 million. He says trade checks reveal that another doubling of BNP revenue in the quarter is possible. He thinks the BNP market could be over $250 million, and believes if approved for monitoring cognitive heart failure, it will address domestic markets that could total $200 million to $500 million at current test prices. Huber raised the $32 target to $36, at 38 times his new $0.95 2003 EPS estimate.

The Good Business Issue

Sponsored Financial Commentaries

Sponsored Links

Buy a link now!

blog comments powered by Disqus