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Applied Biosystems reinstated by Merrill at neutral
Merrill Lynch analyst Jonathan Groberg reinstated coverage of Applied Biosystems with a neutral rating. The company has a solid brand and leading position in an attractive industry, has restructured and re-focused its businesses, is building top-line momentum, and has plenty of balance sheet flexibility, according to the analyst. Shares of the Foster City, Calif., scientific products company were down 74 cents, or 1.93%, at $37.53. (NYSE: ABI)
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