Jefferies keeps Forest Labs at hold

Forest Laboratories Inc. was kept at its hold rating by Jefferies & Co., Inc. analyst David Windley as the Lexapro litigation continues to dominate the near-term outlook. The company had a 5.5% sell off even with earnings-per-share guidance exceeding consensus. The analyst's 2007 revenue and earnings-per-share forecasts are $3.24 billion and $2.58, respectively, and a Lexapro sales forecast of $2 billion, $70 million below guidance. Shares of the New York City pharmaceutical company were up 2 cents, or 0.05%, at $40.95 on volume of 4,057,500 shares versus the three-month running average of 2,201,230 shares. (NYSE: FRX)

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