JP Morgan Maintains Overweight, PT of $34 on Omnicare

JP Morgan reiterates its Overweight rating and $34 price target on Omnicare Inc. OCR ahead of the company's first analyst day in three years. JPM says, “We look for an update on the ongoing turnaround, although it appears OCR is seeing early success. The company has been working to shift to an operationally driven and customer-focused company and is re-deploying resources into the field to lead to better customer services and an improvement in retention. While the company has seen improvement, it remains just below its longer term goal. Omnicare is also using customer-facing and internal technologies to drive efficiencies and retention.” OCR closed at $33.08 per share on Wednesday.