Forest Labs maintained by Jefferies at hold

Forest Laboratories Inc. was maintained by Jefferies & Co. analyst David Windley at a hold rating with a price target of $40 per share following second-quarter earnings. Jefferies expects three core products - the anti-anxiety drug Lexapro, Alzheimer's treatment Namenda and blood pressure medication Benicar - to continue to grow over the balance of the year and 2007 should be a growth year but due to the delay in the Lexapro trial, generic competition will be an impact in 2008. Forest Labs shares Wednesday slipped $0.16, or 0.39%, to $40.53 on volume of 1,373,700 shares versus the three-month running average of 1,838,780 shares.

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