Deutsche Bank Upgrades Express Scripts (ESRX) to Hold
- Top 10 News for 12/2: Crude Rips on OPEC Cut; Starbucks' Schultz Steps Down; Nonfarm Payrolls Flat in Nov.
- Unemployment Rate Drops to 4.6%
- Bond yields fall on U.S. jobs data, euro flat before Italy vote
- Alibaba (BABA) Founder Jack Ma Discuss Plans to Retire; 'I Don't Want to Die at the Office'
- Starbucks Coffee (SBUX) CEO Howard Schultz to Step Down, Appointed Executive Chairman; Kevin Johnson New CEO
Find out which companies are about to raise their dividend well before the news hits the Street with StreetInsider.com's Dividend Insider Elite. Sign-up for a FREE trial here.
Deutsche Bank upgraded Express Scripts (NASDAQ: ESRX) from Sell to Hold with a price target of $70.00. Analyst George Hill thinks risk is priced in.
"Following ESI's Q3 results and commentary, and hearing commentary from Anthem, we are upgrading ESRX shares to Hold. We are now increasingly confident that ESI will serve and monetize the Anthem contract through 2019, and that the two companies may even find their way to a resolution. Also, at the current share price we believe a negative revision of ~$2B is largely reflected in the current share price. Lastly, we believe Street estimates for 2017 are likely too low, as improved retention and growth in profit per Rx likely means mid single digit OP and low double digit EPS growth - powered by ~$4B in share repo - in 2017," said Hill.
Shares of Express Scripts closed at $67.24 yesterday.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- JPMorgan Raises Rating on CBOE Holdings (CBOE) to 'Overweight'; Analyst Thinks Bats Technology Will Drive Greater Trading Activity
- Drexel Hamilton Raises Price Target on Workday (WDAY) Following 3Q Beat
- Mizuho Securities Adjusts Estimates Following Gap, Inc. (GPS) Comp Miss
Create E-mail Alert Related CategoriesAnalyst Comments, Analyst PT Change, Upgrades
Related EntitiesDeutsche Bank
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!