Goldman Sachs Deletes AmerisourceBergen (ABC) from Conviction Buy List

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November 9, 2011 7:05 AM EST
Get Alerts ABC Hot Sheet
Price: $179.98 --0%

Rating Summary:
    16 Buy, 8 Hold, 0 Sell

Rating Trend: = Flat

Today's Overall Ratings:
    Up: 8 | Down: 5 | New: 26
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Goldman Sachs removed AmerisourceBergen (NYSE: ABC) from its Conviction Buy List, but maintained a Buy rating and $48 price target. AmerisourceBergen was replaced on this list with McKesson (NYSE: MCK), where the firm sees greater upside.

The firm said while they still like AmerisourceBergen, they sees a more prolonged overhang from its own contract risk. In addition, shares are trading at a premium valuation while upside is limited.

Goldman still likes the long term story on its leverage to growth drivers in generics and specialty.

For an analyst ratings summary and ratings history on AmerisourceBergen click here. For more ratings news on AmerisourceBergen click here.

Shares of AmerisourceBergen closed at $39.58 yesterday.

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Goldman Sachs Conviction Buy List, Goldman Sachs