Actelion "overweight," target price raised

02/26/07 - J.P. Morgan Securities

LONDON, February 26 (newratings.com) - Analyst Annie J Cheng of JP Morgan maintains her "overweight" rating on Actelion Ltd (ACT). The target price has been raised from CHF300 to CHF325.

In a research note dated February 23 and published this morning, the analyst mentions that the upward revision in the target price reflects the bright prospects of Actelion’s PAH and Zavesca businesses and the multi-billion dollar potential of the company’s four products, Tracleer, orexin-RA, renin inhibitor and S1P1. Although Actelion’s sales are expected to decline or flatten out due to competition in 2008-2009, they are not expected to decline significantly, the analyst says.