UPDATE: Deutsche Bank Initiates Coverage on AmerisourceBergen Corp. with Hold Rating, $75 PT as Stock Goes Big, a Half Step at a Time

In a report published Thursday, Deutsche Bank analyst George Hill initiated coverage on

with a Hold rating and $75.00 price target. In the report, Deutsche Bank noted, “We are initiating coverage of ABC shares with a Hold rating. AmerisourceBergen has audaciously reshaped itself over the last couple years in winning the large Express Scripts contract and its deal with Walgreens and AllianceBoots. We believe these deals combined should allow ABC to maintain compound EPS growth in the 17% to 18% range through 2016, which may be best among the drug wholesalers. However, ABC shares trade at a premium to their historic average and most of the rest of the pharma services group, leading us to be somewhat cautious on the shares. We would look to become more positive on ABC shares in the case of a pullback or visibility that our earnings estimates could prove conservative.” AmerisourceBergen Corp. closed on Wednesday at $69.34.