Rite Aid (RAD) Could 'Sling-Shot' 22% Higher on Debt Refi - Analyst

February 1, 2013 9:39 AM EST Send to a Friend
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Price: $5.59 -0.71%

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Rite Aid (NYSE: RAD) is moving higher in early trading following an earlier announcement that it would be refinancing certain debt.

Susquehanna notes that Rite Aid may save up to $60 million per year on the move and shares might "sling-shot" up 22 percent.

From the start of 2012 through yesterday, Rite Aid has gained 18 percent, versus 5.9 percent for the Russell 2000 Consumer Staples. Shares are up 10 percent Friday morning.


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