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
|Nov 2016||Morgan Stanley||Upgrades||Equal-Weight||Overweight|
|Nov 2016||Leerink Swann||Downgrades||Outperform||Market Perform|
© 2016 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.