Hopeful signs for Elan

ATHLONE-BASED pharmaceutical company Elan has been assigned a hold recommendation

Analyst Ronan Wallace said prices agreed for disposals to date have generally been in excess of what would have been expected.

"Allied to good prices has been positive comments from the company's Chairman that Elan should reach its target ahead of schedule and that proceeds are likely to exceed original estimates. While this bodes well for achieving its short-to-medium term goals, there still remains significant risk associated with the stock," he said.