Deutsche Bank Upgrades Express Scripts (ESRX) to Hold
- Record-setting rally pushes on as S&P ends week up 3 percent
- Trump's Cohn Pick Most Bullish Sign Yet for Banks - Cowen
- Unusual 11 Mid-Day Movers: (IDXG) (INVN) (EBS) Higher; (SCON) (DTEA) (DLTH) Lower (more...)
- 21st Century Fox (FOXA) offers to acquire Sky for GBP10.75/share
- Coca Cola (KO) Announces James Quincey to Succeed Muhtar Kent as CEO; Kent to Continue as Chairman
News and research before you hear about it on CNBC and others. Claim your 2-week free trial to StreetInsider Premium 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
- Pivotal Research Upgrades Flowers Foods (FLO) to Hold
- BMO Capital Cuts Price Target on Cooper Cos. (COO) Following 4Q Results
- UBS Cuts Price Target on Restoration Hardware (RH) to $34 Following 3Q
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!