Leerink Swann Initiates Coverage on AmerisourceBergen (ABC); Specialty Generics, Brand Inflation and Financial Discipline
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Leerink Swann initiates coverage on AmerisourceBergen (NYSE: ABC) with an Outperform rating. Valuation range is $36-$38
Leerink analyst says, "We believe that the company is well positioned to take advantage of (1) generic launches, (2) high brand price inflation for the second year in a row, and (3) an increasing mix of specialty drugs. We also believe that the company's management team has a relentless focus on cost management and margins, and ABC returns significant portions of its free cash flow to shareholders. In addition, the stock trades at an attractive level relative to its historical earnings multiple, and we see opportunity for multiple expansion."
To see all the upgrades/downgrades on shares of ABC, visit our Analyst Ratings page.
The 52-wk trading range is $21.44 - 33.27.
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