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Investment Bank Raises ABI's Stock Target

Oct 26, 2006
NEW YORK (GenomeWeb News) — Jefferies Broadview investment bank has raised the price target for Applied Biosystems’ shares to a $38 a share.
 
As GenomeWeb News reported yesterday, ABI said fiscal first quarter revenues increased 15 percent as profit turned to a loss.
 
The company also said expects to see “mid to high single digit revenue growth” for fiscal 2007. This outlook includes the full fiscal year impact from the March 2006 acquisition of Ambion and the impact of currency, ABI said.
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