In a report published Friday, Credit Suisse analyst Glen Santangelo reiterated an Outperform rating on AmerisourceBergen Corp. ABC, and raised the price target from $57.00 to $61.00.
In the report, Santangelo noted, “Following ABC's F2Q earnings release and conference call this morning, we have revisited our model. We have adjusted our F13, F14 and F15 estimates to $3.06 (previously did not exclude the loss from Canadian operations that has been moved to discontinued ops), $3.67 and $4.25 from $3.02, $3.64 and $4.19. Our updated TP of $61 (from $57) implies shares can trade at 16x our C14 estimate of $3.82. Our higher target multiple reflects the strong mid-teens growth outlook over the next several years.”
AmerisourceBergen Corp. closed on Thursday at $53.41.
Market News and Data brought to you by Benzinga APIs© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Comments
Loading...
Benzinga simplifies the market for smarter investing
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
Join Now: Free!
Already a member?Sign in