UPDATE: Rite-Aid (RAD) PT Raised to $27 at Deutsche Bank as a Catalyst Buy Idea
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Deutsche Bank analyst George Hill raised the price target on Rite-Aid (NYSE: RAD) to $27.00 (from $17.00) on the belief that the current environment represents the near to medium term performance trough for retail pharmacies.
The analyst maintained the official Hold rating (but noting the stock is a short term Buy), stating "The COVID crisis has severely disrupted the retail pharmacy businesses, as evidenced by RAD’s preannouncement related to a weak cough and cold season in its F4Q and lower acute care Rx volumes in C4Q. However, we believe the COVID vaccine presents both a near term and longer term positive opportunity as the bolus of vaccinations near term should drive positive earnings surprise throughout the balance of C2021, and the nature of the variant virus may mean many people in the future may receive a COVID vaccine the way they now receive a flu vaccine."
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Create E-mail Alert Related CategoriesAnalyst Comments, Analyst PT Change
Related EntitiesDeutsche Bank, Earnings
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