Goldman Sachs Downgrades AmerisourceBergen (ABC) to Neutral

Goldman Sachs downgraded AmerisourceBergen (NYSE: ABC) from Buy to Neutral with a price target of $75.00 (from $78.00), citing greater upside in McKesson (NYSE: MCK) which was added to the CL Buy List.

Analyst Robert Jones said, "While we continue to view ABC’s joining with WAG and Alliance Boots as a good strategic move, and give credit for it being the first Wholesaler to leverage its generic procurement scale, we see more EPS upside from the MCK/Celesio combination. Further, ABC has not participated in the recent core outperformance that its peers have, and we see headwinds in its Specialty business driving relative underperformance."

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 $68.34 yesterday.

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