Leerink Partners Cuts Price Target on Diplomat Pharmacy (DPLO) to $15

November 8, 2016 6:49 AM EST
Get Alerts DPLO Hot Sheet
Price: $13.02 -3.63%

Rating Summary:
    6 Buy, 7 Hold, 1 Sell

Rating Trend: Down Down

Today's Overall Ratings:
    Up: 22 | Down: 17 | New: 13
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Leerink Partners maintained a Market Perform rating on Diplomat Pharmacy (NYSE: DPLO), and cut the price target to $15.00 (from $18.00), after updating estimates.

Analyst David Larsen commented, "We are publishing an updated model that includes 2017 quarterly estimates and our full-year outlook for 2018E. Our full-year 2017E EPS of $0.85 (+4.6% y/y) remains unchanged and our 2018E EPS of $0.90 assumes +5.3% y/y growth on revenue growth of +15%. We are generally cautious on shares of DPLO given "Direct and Indirect Remuneration" (DIR) fees from the PBMs, a difficult Hep C comp, slowing price inflation, and a lack of visibility into earnings. We maintain our Market Perform rating on DPLO, but reduce our price target to $15 from $18 on a lower group multiple."

For an analyst ratings summary and ratings history on Diplomat Pharmacy click here. For more ratings news on Diplomat Pharmacy click here.

Shares of Diplomat Pharmacy closed at $13.29 yesterday.

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