Jefferies Downgrades Express Scripts (ESRX) to Hold Post Q3 and Downbeat Outlook

November 6, 2012 6:58 AM EST
Get Alerts ESRX Hot Sheet
Price: $92.33 --0%

Rating Summary:
    8 Buy, 20 Hold, 3 Sell

Rating Trend: = Flat

Today's Overall Ratings:
    Up: 18 | Down: 12 | New: 23
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Jefferies downgraded Express Scripts (NASDAQ: ESRX) from Buy to Hold with a price target of $56.00 (from $70.00) following Q3 results and downbeat guidance.

The firm comments, "We are downgrading ESRX to Hold from Buy after mgmt commented last night that 2013 Street EPS expectations (currently at 21% Y/Y growth) are overly aggressive. While we had anticipated ESRX's growth rate to decelerate after synergies from its Medco acquisition are realized, it appears that ESRX is reaching its maturity point quicker than most investors had expected."

FY12 EPS goes up from $3.72 to $3.74 and FY13 goes down from $4.51 to $4.25.

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

Shares of Express Scripts closed at $62.02 yesterday.


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