Jefferies maintains Forest at buy

Forest Laboratories, Inc. was maintained at a buy with a $54 price target by Jefferies & Co., Inc. analyst David Windley on news the company secured Lexapro's exclusivity until 2012. The analyst suggests the Forest needs to demonstrate progress on its pipeline to sustain momentum. Forest's fiscal first-quarter earnings per share of $0.62 beat Jefferies' estimate by 12 cents. Shares of the New York City-based pharmaceutical company were up 33 cents, or 0.78%, at $42.90 on volume of 3,622,900 shares versus the three-month running average of 2,162,210 shares. (NYSE: FRX)

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