Ameriprise Financial Names Express Scripts (ESRX) a Top Pick for 2009
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Ameriprise Financial names Express Scripts (Nasdaq: ESRX) a Top Pick for 2009.
Ameriprise analyst says, "As more big-name drugs lose patent protection and face generic competition, Express Script’s earnings should accelerate due to higher margins for generics. The loss of patent protection for proprietary drugs picks up again in 2009 to around $13 billion from $5 billion last year. ESRX trades at 16x next year’s EPS estimate with a PEG ratio of 0.9x. With the consistency of ESRX’s operations coupled with a P/E valuation that falls in the low end historically, we would be buyers at these levels. Our confidence level in the Firm’s ability to generate 20%+ profit growth the next few years is quite high. As a result, the outlook for the Company remains compelling, especially with forecasts of greater conversions of ethical drugs in 2009 and probable upside surprises in earnings guidance."
Express Scripts, Inc. is a pharmacy benefit management (PBM) in North America.
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Ooops - ESRX
kenny g on Mar 28, 2009 08:53 PMWant to reconsider????