Citigroup Maintains Neutral, $42 Target on AmerisouceBergen

Citigroup reiterates its Neutral rating and $42 target price on AmerisourceBergen ABC as the company discusses opportunities and challenges for 2012 in its investor day. Citi comments, “Most prominent on this list are the company's need for crisp execution on the generic opportunity, converting its distribution centers to the new SAP platform, reimbursement pressures on customers working their way upstream and tough comparisons to strong F2011 results. The company maintained its guidance, while reminding investors that the loss of key cancer drugs create a ~$0.30 headwind in fiscal 2012.” ABC close at $35.86 per share on Wednesday.