Leerink Swann Upgrades AmerisourceBergen (ABC) to Outperform

Leerink Swann upgraded AmerisourceBergen (NYSE: ABC) from Market Perform to Outperform with a price target of $60-$65 (from $55-$60). Analyst David Larsen thinks AmerisourceBergen's deal with Wallgreens (NYSE: WAG) and Alliance Boots will support earnings.

"We believe that the deal with Walgreens (NYSE: WAG) and Alliance Boots (AB or Boots) will provide incremental earnings to ABC for years, well beyond the $0.25 guided to for F2014 ($0.20 net of $0.05 delayed IT program). We also believe that CEO Collis may seek to do more deals throughout the world, the company is well positioned in specialty, and management consistently delivers on effective capital deployment and cost controls," said Larsen.

For an analyst ratings summary and ratings history on AmerisourceBergen (NYSE: ABC) click here. For more ratings news on AmerisourceBergen click here.

Shares of AmerisourceBergen closed at $53.71 yesterday.

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