Genzyme initiated with "buy" - update

08/31/06 - A.G. Edwards & Sons

NEW YORK, August 31 (newratings.com) - Analyst Aaron S Reames of AG Edwards initiates coverage of Genzyme (GENZ) with a "buy" rating. The price objective is set to $82.

In a research note published yesterday, the analyst mentions that the company is well positioned for growth over the forthcoming three years, driven by the performance of Myozyme, Renagel, Fabrazyme, Hectorol, and Synvisc. The analyst expects Genzyme to generate more than 20% EPS growth till 2010. Campath is likely to be eventually approved for MS, AG Edwards adds.