Goldman Sachs added AmerisourceBergen (ABC) to Conviction Buy
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Price: $179.98 --0%
Rating Summary:
16 Buy, 8 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 7 | Down: 5 | New: 23
Rating Summary:
16 Buy, 8 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 7 | Down: 5 | New: 23
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Goldman Sachs added AmerisourceBergen (NYSE: ABC) to its Conviction Buy with a price target of $48, suggesting 30% upside.
The firm cited the recent 12% pullback in the shares, versus the 8% slide in the S&P since July 15.
The firm cited: (1) Importance of near-term earnings visibility as we are on the cusp of the generic wave where ABC has best leverage; (2) Re-set expectations for FY2012 EPS growth where we see upside potential to seemingly conservative company targets; (3) limited exposure to utilization and austerity measures, and (4) healthy cash position ($2 billion) with historical propensity to return cash to shareholders through buybacks.
For more ratings news on AmerisourceBergen click here and for the rating history of AmerisourceBergen click here.
Shares of AmerisourceBergen closed at $36.81 yesterday.
The firm cited the recent 12% pullback in the shares, versus the 8% slide in the S&P since July 15.
The firm cited: (1) Importance of near-term earnings visibility as we are on the cusp of the generic wave where ABC has best leverage; (2) Re-set expectations for FY2012 EPS growth where we see upside potential to seemingly conservative company targets; (3) limited exposure to utilization and austerity measures, and (4) healthy cash position ($2 billion) with historical propensity to return cash to shareholders through buybacks.
For more ratings news on AmerisourceBergen click here and for the rating history of AmerisourceBergen click here.
Shares of AmerisourceBergen closed at $36.81 yesterday.
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