Mizuho Securities Downgrades AAC Holdings (AAC) to Neutral
- Dow, S&P hit highs; Trump comment hammers drug stocks
- Unusual 11 Mid-Day Movers 12/7: (ANTH) (EMKR) (PLAY) Higher; (SIGM) (OHAI) (FTK) Lower
- Abbott (ABT) Files Complaint to Terminate Alere (ALR) Acquisition
- Western Digital (WDC) Raises Q2 Outlook
- Biotech, Pharma Stocks Weaker Amid Trump Comments on Lower Drug Prices
News and research before you hear about it on CNBC and others. Claim your 2-week free trial to StreetInsider Premium here.
Mizuho Securities downgraded AAC Holdings (NYSE: AAC) from Outperform to Neutral with a price target of $14.00 (from $26.00) following weak guidance.
Analyst Ann Hynes commented, "We are downgrading AAC to Neutral from Buy given this morning's guidance reduction which, at that midpoint, is a ~10% reduction in adjusted EBITDA and ~16% reduction in adjusted EPS. We no longer think this stock supports a premium valuation multiple so our new price target is 11x EV/EBITDA versus 13x previously."
Shares of AAC Holdings closed at $7.80 yesterday.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Deutsche Bank Downgrades MGM Growth Properties (MGP) to Hold
- Wedbush Downgrades Synchrony Financial (SYF) to Neutral
- Credit Suisse Upgrades Juniper Networks (JNPR) to Outperform
Create E-mail Alert Related CategoriesAnalyst Comments, Analyst EPS Change, Analyst EPS View, Analyst PT Change, Downgrades
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!