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Beckman Coulter Upgraded by JP Morgan

NEW YORK (GenomeWeb News) – Investment bank JP Morgan has upgraded Beckman Coulter's stock to "overweight" from "neutral," due to the firm's long-range earnings forecast.

In mid-December, Beckman Coulter set a preliminary 2010 guidance for adjusted earnings per share of between $4.40 and $4.55, which was just below analysts' consensus estimate of $4.56.

JP Morgan also set a 12-month price target on the stock of $75.

In early Monday trade on the New York Stock Exchange, shares of Beckman Coulter were up around 2 percent at $67.

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