UBS Starts AmerisourceBergen (ABC) at Neutral
Find out which companies are about to raise their dividend well before the news hits the Street with StreetInsider.com's Dividend Insider Elite. Sign-up for a FREE trial here.
UBS initiates coverage on AmerisourceBergen (NYSE: ABC) with a Neutral rating and a price target of $87.00.
Analyst Michael Cherny commented, "We are initiating coverage of AmerisourceBergen with a Neutral rating and an $87.00 price target. ABC has undertaken a number of strategic shifts under the leadership of Steve Collis, including a significant strategic partnership with Walgreens Boots Alliance (which included the transfer of a ~24% stake in ABC) and the expansion into animal health and compounding. While these moves have driven outsized earnings growth, the near-term outlook due to generic inflation headwinds and the impact of contract re-pricings (notably Kaiser) provide limited earnings upside opportunities, in our view. Therefore we view a fair risk/reward profile for ABC shares at current levels."
Shares of AmerisourceBergen closed at $80.03 yesterday.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- UPDATE: Seaport Global Securities Starts Canadian Pacific Railway Limited (CP) at Buy
- Wedbush Raises Price Target on Citizens Financial Group (CFG) Following 3Q EPS Beat
- Oppenheimer Raises Price Target on Microsoft (MSFT) to $65 Following 1Q Beat
Create E-mail Alert Related CategoriesAnalyst Comments, New Coverage
Related EntitiesUBS, Earnings
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!