UBS Starts AmerisourceBergen (ABC) at Neutral
- Wall Street falls with financials, other post-election gainers
- The FTC Confirms Antitrust Charges Against Qualcomm (QCOM) for Monopolizing Semiconductor Device Used in Cell Phones
- United Airlines (UAL) Tops Q4 EPS by 5c
- Obama shortens sentence of Manning, who gave secrets to WikiLeaks
- After-Hours Stock Movers 01/17: (SHLO) Higher; (GIMO) (AFAM) (CSX) Lower (more...)
Get daily under-the-radar research with StreetInsider.com's Stealth Growth Insider Get your 2-Wk 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: Leerink Partners Upgrades AmerisourceBergen (ABC) to Outperform
- Deutsche Bank Starts Mettler-Toledo (MTD) at Hold
- Deutsche Bank Starts Laboratory Corporation of America (LH) at Buy
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!