Forest Laboratories initiated with "hold"

12/19/05 - WR Hambrecht & Co

NEW YORK, December 19 (newratings.com) - Analysts at WR Hambrecht initiate coverage of Forest Laboratories Inc (FRX) with a "hold" rating.

In a research note published on December 16, the analysts mention that there is limited upside potential to the company’s share price, in view of the low product growth drivers and slowing sales growth of Lexapro. Forest Laboratories is witnessing significant patent challenges for its Lexapro product from IVAX and Teva Pharmaceuticals, the analysts say. The company is likely to post 11% earnings CAGR during FY04-FY07, WR Hambrecht adds.