Express Scripts (ESRX) Mylan Selloff Is Overdone - Jefferies
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Jefferies analyst, Brian Tanquilut believes the pressure on Express Scripts (NASDAQ: ESRX) due to concerns about potential pricing scrutiny for players in the drug supply chain, including the PBMs and retail pharmacies is overdone. The analyst believes that the PBMs enable health plan benefit sponsors to optimize costs through clinical programs, scale purchasing, and new tools/offerings such as inflation protection and cost trend guarantees, which he believes plan sponsors generally recognize.
No change to the Buy rating or price target of $88.
Shares of Express Scripts closed at $71.74 yesterday.
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