MedImmune "overweight," estimates reduced

03/19/07 - Prudential Financial

NEW YORK, March 19 (newratings.com) - Analyst Jason Zhang of Prudential Financial maintains his "overweight" rating on MedImmune Inc (MEDI), while reducing his estimates for the company. The target price is set to $40.

In a research note published this morning, the analyst mentions that the 1Q07 sales estimate for Flumist has been reduced from $10.7 million to $2.1 million to reflect the impact of the weak flu season. MedImmune’s Synagis sales outside the US are expected to be evenly distributed during 1Q and 2Q at $36.25 million on account of the agreement with Abbott, the analyst adds. The EPS estimate for 2007 has been reduced form $0.90 to $0.89.