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UPDATE: ISI Group Initiates AmerisourceBergen with Overweight, $43.50 PT on Superior Specialty Positioning

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ISI Group initiated its coverage on AmerisourceBergen (NYSE: ABC) with a rating of Overweight and price target of $43.50.

ISI Group commented, "We are initiating coverage on shares of AmerisourceBergen with an Overweight rating and a price target of $43.50, which on a forward basis equates to ~7x EV/EBITDA and ~13x operating EPS. Our thesis for ABC is based on superior positioning in specialty as well as a highly competitive generic offering, too much pessimism surrounding the potential Medco contract loss, and upside from recent M&A as well as other capital deployment options driving incremental EPS growth."

AmerisourceBergen closed at $39.29 on Wednesday.

Latest Ratings for ABC

DateFirmActionFromTo
Jun 2016Bank of AmericaReinstatesNeutral
May 2016Avondale PartnersDowngradesMarket OutperformMarket Perform
Apr 2016Avondale PartnersInitiates Coverage onMarket Outperform

View More Analyst Ratings for ABC
View the Latest Analyst Ratings

Posted-In: ISI GroupAnalyst Color Initiation Intraday Update Analyst Ratings

 

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