Jefferies rates Forest at hold

Forest Laboratories, Inc. was given a hold rating by Jefferies & Co., Inc. analyst David Windley. Despite an increase in prescription volume, Lexapro sales fell sequentially. For 2007, sales forecasts for Lexapro and Namenda and profit contribution from Benicar seem achievable. Forest reported pro forma earnings per share of $0.65, or about 7 cents below the analyst's estimate. The company's 2007 revenue guidance of $3.3 billion is slightly above Jefferies' estimate. Shares of the New York City pharmaceutical company were up $2.38, or 5.50%, at $40.93 on volume of 5,451,100 shares versus the three-month running average of 2,141,160 shares. (NYSE: FRX)

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