Market Overview

UPDATE: Credit Suisse Raises PT on AmerisourceBergen Corp. on Multi-Year Growth Outlook

Share:
Related ABC
AmerisourceBergen Q1'16 Earnings Conference Call: Full Transcript
Stocks Hitting 52-Week Lows
Drug Stocks Lead Key Indexes Lower, But IBD 50 Member AMN Healthcare Rallies (Investor's Business Daily)

In a report published Thursday, Credit Suisse analyst Glen Santangelo reiterated an Outperform rating on AmerisourceBergen Corp. (NYSE: ABC), and raised the price target from $61.00 to $64.00.

In the report, Credit Suisse noted, “Despite the significant move in the shares YTD (~+31%), we continue to believe that ABC remains an attractive investment given the multi-year growth outlook created by the cumulative benefit of the WAG relationship. We believe investors have been too myopically focused on the $0.25 (gross) accretion contribution in F14 and are failing to fully appreciate the bigger (multi-year) picture, which has created a competitive advantage for ABC.”

AmerisourceBergen Corp. closed on Wednesday at $56.55.

Latest Ratings for ABC

DateFirmActionFromTo
May 2016Avondale PartnersDowngradesMarket OutperformMarket Perform
Apr 2016Avondale PartnersInitiates Coverage onMarket Outperform
Mar 2016Credit SuisseInitiates Coverage onOutperform

View More Analyst Ratings for ABC
View the Latest Analyst Ratings

Posted-In: Credit Suisse Glen SantangeloAnalyst Color Price Target Analyst Ratings

 

Related Articles (ABC)

View Comments and Join the Discussion!