Jefferies Cuts Price Target on Express Scripts (ESRX) to $88 Following 2Q Report
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Rating Summary:
6 Buy, 20 Hold, 3 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 20 | Down: 14 | New: 22
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Jefferies maintained a Buy rating on Express Scripts (NASDAQ: ESRX), and cut the price target to $88.00 (from $98.00), following the company's 2Q earnings report. ESRX's volumes were slightly below expectations at 315MM, but in-line results should offset this 1% shortfall.
Analyst Brian Tanquilut commented, "With ESRX's Q2 essentially coming in line with consensus (volumes were 1% below, EBITDA/Rx and EPS in line), we expect a muted reaction to the company's reported results. That said, we expect the stock to hold its valuation and gradually grind up (at least for the next 6 months) as the stock will likely continue to screen well given its low P/E at 11x 2017 EPS, strong FCF, and ongoing buybacks."
For an analyst ratings summary and ratings history on Express Scripts click here. For more ratings news on Express Scripts click here.
Shares of Express Scripts closed at $77.39 yesterday.
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