Bear Stearns puts Invitrogen at outperform

Invitrogen Corp. was rated at outperform and a $74 price target by Bear Stearns analyst Stephen Unger after what was considered an uneventful investor day. However, the company maintained its 2006 financial guidance of revenues in the range of $1.300 billion to $1.355 billion and pro forma earnings per share of $3.90 to $4.10. The analyst is maintaining its 2006 and 2007 earnings per share at $3.40 and $3.90, respectively. Shares of the Carlsbad, Calif.-based pharmaceutical company were down 5 cents, or 0.08%, at $63.89 on volume of 477,621 shares versus the three-month running average of 783,677 shares. (Nasdaq: IVGN)

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