Imperial Capital Re-Starts Rite-Aid (RAD) at Outperform

November 21, 2013 10:14 AM EST
Get Alerts RAD Hot Sheet
Price: $8.60 -0.58%

Rating Summary:
    9 Buy, 6 Hold, 0 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 23 | Down: 34 | New: 34
Trade RAD Now!
Join SI Premium – FREE
Imperial Capital re-initiates coverage on Rite-Aid (NYSE: RAD) with a Outperform. PT $6.50.

Analyst Lee J. Giordano comments, "Following a period of lackluster results, we now find Rite Aid in the midst of a successful multi-year turnaround strategy with opportunity for further gains in the years ahead, in our view. Management has engineered an improvement in cash flow and profitability over the past few years, which is likely to continue as older stores are remodeled, loyalty programs expand, and operational efficiencies take hold. While the stock has performed exceptionally well of late, we believe there is room for additional upside as Rite Aid’s management team successfully executes a favorable long-term strategy coinciding with demographic tailwinds surrounding the drugstore industry."

For an analyst ratings summary and ratings history on Rite-Aid click here. For more ratings news on Rite-Aid click here.

Shares of Rite-Aid closed at $5.10 yesterday.

Serious News for Serious Traders! Try Premium Free!

You May Also Be Interested In

Related Categories

Analyst Comments, New Coverage

Add Your Comment