UPDATE: Credit Suisse Raises PT on AmerisourceBergen Corp. on Multi-Year Growth Outlook
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
|May 2016||Avondale Partners||Downgrades||Market Outperform||Market Perform|
|Apr 2016||Avondale Partners||Initiates Coverage on||Market Outperform|
|Mar 2016||Credit Suisse||Initiates Coverage on||Outperform|
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