Biotech Gets a Strong Buy from S&P
The outlook for biotech stocks got a boost from Standard & Poor’s Equity Research team which recently upgraded its outlook for the industry to positive from neutral.
According to Investment News, S&P’s biotechnology equity analyst thinks the industry is positioned for renewed investor interest in 2010, despite lagging the market in 2009. The research firm is encouraged by developing treatments for several conditions, including lupus and chronic hepatitis C.
S&P recently upgraded Gilead Sciences (GILD), Celgene (CELG), and Vertex (VRTX). Three ETFs that hold at least one of these stocks include iShares Dow Jones U.S. Healthcare (IYH), Health Care Select Sector SPDR (XLV), and Vanguard Health Care (VHT).
