Wells Fargo Starts Catamaran (CTRX) at Market Perform

Wells Fargo initiated coverage on Catamaran (NASDAQ: CTRX) with a Market Perform rating and a price target of $48.50.

"Valuation reflects higher-than-industry growth, and we believe this is increasingly difficult to sustain as the Pharmacy Benefit Management (PBM) industry evolves. We believe the industry is undergoing substantial changes, marked by high generic penetrations, slowed growth in mail-order, and the rising importance of specialty pharmacy," said analyst Peter Costa.

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

Shares of Catamaran closed at $47.55 yesterday.

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