Oppenheimer Maintains an 'Outperform' on Express Scripts (ESRX); WellPoint Dispute Likely Overblown
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Price: $92.33 --0%
Rating Summary:
6 Buy, 20 Hold, 3 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 11 | Down: 12 | New: 9
Rating Summary:
6 Buy, 20 Hold, 3 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 11 | Down: 12 | New: 9
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Oppenheimer maintains an 'Outperform' on Express Scripts (NASDAQ: ESRX) price target of $54.00.
Oppenheimer analyst said, "ESRX shares fell after the company disclosed a contract dispute with WellPoint (NYSE: WLP). Express Scripts indicated the dispute was not unusual and only filed the disclosure as an update of risks for the company's debt offering, on the off chance the dispute rises to the level of litigation. While simultaneous disputes with WellPoint and Walgreen's would certainly be unwelcome, ESRX believes the dispute with WLP will be resolved. Furthermore, with regards to Walgreen's, two plans in the Pittsburgh region, UPMC and Highmark, have excluded WAG as part of their pharmacy networks. The exclusion is the first indication that narrow networks are gaining traction and increases the pressure on WAG to settle, in our opinion."
For an analyst ratings summary and ratings history on Express Scripts click here. For more ratings news on Express Scripts click here.
Shares of Express Scripts closed at $44.40 yesterday.
Oppenheimer analyst said, "ESRX shares fell after the company disclosed a contract dispute with WellPoint (NYSE: WLP). Express Scripts indicated the dispute was not unusual and only filed the disclosure as an update of risks for the company's debt offering, on the off chance the dispute rises to the level of litigation. While simultaneous disputes with WellPoint and Walgreen's would certainly be unwelcome, ESRX believes the dispute with WLP will be resolved. Furthermore, with regards to Walgreen's, two plans in the Pittsburgh region, UPMC and Highmark, have excluded WAG as part of their pharmacy networks. The exclusion is the first indication that narrow networks are gaining traction and increases the pressure on WAG to settle, in our opinion."
For an analyst ratings summary and ratings history on Express Scripts click here. For more ratings news on Express Scripts click here.
Shares of Express Scripts closed at $44.40 yesterday.
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