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Merrill reinstates Applied Biosystems at neutral
Applied Biosystems coverage was reinstated by Merrill Lynch analyst J. Darryl Pardi at a neutral rating. The company's shares trade at a slight premium to peers. Merrill said it believes the share are fairly valued in light of potential value from a sale of Celera Diagnostics, which has estimated gross proceeds of $100 million to $400 million and the potential to repurchase additional shares. Earnings per share should improve, Merrill said. Shares of the Foster City, Calif., maker of scientific instruments were down 34 cents, or 1.23%, at $27.23 on volume of 882,600 shares versus the three-month running average of 1,279,060 shares.
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