Deutsche Bank Downgrades Medco Health Solutions (MHS) to 'Hold' Given Uncertainty Post CalPERS

Deutsche Bank downgraded Medco Health Solutions (NYSE: MHS) from Buy to Hold. PT slashed from $77 to $55.

Deutsche analyst says, "Late Last Wednesday, CalPERS, the largest pension fund manager in the US announced that it was terminating its negotiations with MHS following a review of business practices by former employees. In an 8K filed last Friday, MHS stated that it was cooperating with the SEC, and that its Board had deemed an internal investigation as unnecessary. Potential reputational damage to MHS, both from a client as well as investor perspective makes the situation hard to analyze."

For more ratings news on Medco Health Solutions click here and for the rating history of Medco Health Solutions click here.

Shares of Medco Health Solutions closed at $53.19 yesterday.

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