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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
Jul 2014BarclaysMaintainsOverweight
Jul 2014CitigroupMaintainsBuy
Jul 2014Deutsche BankMaintainsHold

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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