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Investment Bank Cuts ABI Stock Rating, Though Says Firm Can Meet Revenue Targets

NEW YORK, Dec. 2 (GenomeWeb News) - Investment bank Lehman Brothers today cut Applied Biosystems' stock rating to "equal-weight" from "overweight."

 

Though it said it continues to believe the company can meet revenue and earnings targets, the recent increase in the share price no longer warrants an overweight rating, Lehman Brothers said.

 

The broker said the recent run-up in the share price may be related to the company's stock buyback program.

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