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Genzyme moved to buy rating
Genzyme Corp. was upgraded by Merrill Lynch analyst Eric Ende to buy with a $74 price target despite concerns about weak second-quarter earnings. Merrill expects second-half 2006 revenues to be boosted by a weaker dollar, Medicare Part D and a strong Myozyme launch. Shares of the Cambridge, Mass.-based biopharmaceutical company were up 9 cents, or 0.15%, at $60.33 on volume of 2,288,638 shares versus the three-month running average of 2,992,230 shares. (Nasdaq: GENZ)
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