Merrill reinstates Affymetrix at sell rating

Affymetrix Inc. was reinstated by Merrill Lynch analyst J. Darryl Pardi at a sell rating and $30 price target as Merrill said it forecasts earnings per share to decline 4% to $0.84 in 2006. The stock appears to be priced for a best-case scenario, Merrill said. Shares of the Santa Clara, Calif., maker of scientific instruments were down $1.63, or 3.61%, at $43.58 on volume of 1,296,588 shares versus the three-month running average of 1,017,350 shares.

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