Cerep on hold by Jefferies

Jefferies & Co., Inc. analyst Robin Campbell rated Cerep on hold after the company's second-quarter 2006 results declined from the prior-year period. According to the analyst, the company's investment thesis depends on the balance between drug discovery and clinical services. The latest guidance for 2006 points to some uptick in discover, with potential downtick in growth in the services. Shares of the Paris-based pharmaceutical company were unchanged at €7.70. (Paris: CER.PA)

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