Leerink Swann Reiterates an 'Outperform' on Express Scripts (ESRX); Overhang Removed; We Are Aggressive Buyers
Tweet
Share
E-mailGet Alerts ESRX Hot Sheet
Price: $92.33 --0%
Rating Summary:
6 Buy, 20 Hold, 3 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 8 | Down: 5 | New: 26
Rating Summary:
6 Buy, 20 Hold, 3 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 8 | Down: 5 | New: 26
Join SI Premium – FREE
Leerink Swann reiterates an 'Outperform' on Express Scripts (NASDAQ: ESRX) price target range $60-$65 (from $70-74).
Leerink analyst says, "We are reducing our 2011 and 2012 estimates following this morning's updated guidance. ESRX reduced 2011 EPS guidance from a range of $3.15-$3.25 to a new range of $2.95-$3.05. While we recently reduced our 2011E EPS, we lower it an additional $0.13, to $2.97 due to the costs pulled into 2011 that we had not anticipated. Overall we believe the updated guidance is an incremental positive as it alleviates much of the uncertainty going into 3Q:11 earnings. We are aggressive buyers of the stock now, ahead of 3Q results since (1) expectations have been reset and (2) we have higher conviction the Medco deal will get done."
For more ratings news on Express Scripts click here and for the rating history of Express Scripts click here.
Shares of Express Scripts closed at $40.02 yesterday.
Leerink analyst says, "We are reducing our 2011 and 2012 estimates following this morning's updated guidance. ESRX reduced 2011 EPS guidance from a range of $3.15-$3.25 to a new range of $2.95-$3.05. While we recently reduced our 2011E EPS, we lower it an additional $0.13, to $2.97 due to the costs pulled into 2011 that we had not anticipated. Overall we believe the updated guidance is an incremental positive as it alleviates much of the uncertainty going into 3Q:11 earnings. We are aggressive buyers of the stock now, ahead of 3Q results since (1) expectations have been reset and (2) we have higher conviction the Medco deal will get done."
For more ratings news on Express Scripts click here and for the rating history of Express Scripts click here.
Shares of Express Scripts closed at $40.02 yesterday.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Walmart (WMT) PT Lowered to $130 at UBS on Investment Narrative's Competing Dynamics
- Zurn Water Solutions (ZWS) Reiterated at Buy by Stifel on New Product Development Momentum
- Mizuho Reiterates Outperform Rating on Broadcom Limited (AVGO) Into EPS
Create E-mail Alert Related Categories
Analyst CommentsRelated Entities
EarningsSign 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!
