UPDATE: Jefferies Downgrades Express Scripts to Hold; Maturing Earlier
Jefferies reduced its rating on Express Scripts (NASDAQ: ESRX) from Buy to Hold and lowered its price target from $70 to $56.
Jefferies said, "We are downgrading ESRX to Hold from Buy after mgmt commented last night that 2013 Street EPS expectations (currently at 21% Y/Y growth) are overly aggressive. While we had anticipated ESRX's growth rate to decelerate after synergies from its Medco acquisition are realized, it appears that ESRX is reaching its maturity point quicker than most investors had expected."
Express Scripts closed at $27.46 on Monday.
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