Genentech target raised by Baird

Genentech Inc. was reiterated by Robert W. Baird at outperform, but the firm raised its target price for the stock to $90 from $87. Also, because of robust second quarter results, the EPS estimate for 2005 was raised from $1.12 to $1.17. Genentech shares Tuesday climbed $2.39, or 2.86%, to $85.89 on volume of 9.48 million shares versus the three-month running average of 4.56 million.

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