Jefferies maintains Serono at hold

Serono SA was maintained at hold with an $18 price target by Jefferies International Ltd. analyst Nick Turner after the Wall Street Journal suggested Serono may sell. Serono confirmed it has retained advisers to examine strategic alternatives, but has no further comment. Turner speculated that Serono is looking for a potential acquisition and said he sees this scenario as likely an outcome as the company being purchased by a large pharmaceutical company. Shares of the Geneva-based biotechnology company were up $0.41, or 2.28%, at $18.38 on volume of 1,373,500 versus the three-month running average of 105,909 shares.

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