Rite Aid (RAD) Tops Q3 EPS by 2c, Revenue Comes in Light
FREE Breaking News Alerts from StreetInsider.com!
StreetInsider.com Top Tickers, 10/22/2026
Go back to Rite Aid (RAD) Tops Q3 EPS by 2c, Revenue Comes in Light
January 4, 2018 9:45 AM EST
Susquehanna's special situation analyst Joe Stauff said while Rite Aid (NYSE: RAD) is trading lower pre-open they expect the stock to be up on the day following Q3 results. He provided 4 primary take-aways:
Divestiture Closings Accelerating and Will Reduce RAD's Debt To ~$3B By April. Management seemed VERY confident in the divestiture closing process (as of 1/3/18, RAD closed 356 store closings receiving $714m in proceeds or 18.5% of the 1,932 stores to be sold) and repeatedly reiterated that they expect to complete the closing by end of April 2018 ("spring," "in fiscal 1Q"... More
January 4, 2018 6:04 AM EST
Cowen analyst Charles Rhyee raised his price target on Rite-Aid (NYSE: RAD) to $2.50 (from $2.15) while maintaining a Outperform rating following better-than-expected Q3 results.
Rhyee commented, "Proforma F3Q18 results came in better than we expected with adj. EBITDA of $153M (ex-corp expenses... More
