Market Overview

UPDATE: Deutsche Bank Initiates Coverage on Rite Aid on Positive Outlook

Share:
Related RAD
Deutsche Bank Stops Short On Rite Aid: Downgrades To Hold
Benzinga's Top Downgrades
FTC Likely To Approve Rite Aid Buyout Based On Legal Precedent (Seeking Alpha)

In a report published Thursday, Deutsche Bank analyst George Hill initiated coverage on Rite Aid Corporation (NYSE: RAD) with a Buy rating and $7.00 price target.

In the report, Deutsche Bank noted, “We are initiating coverage of Rite Aid with a Buy rating. We believe that Rite Aid should be able to maintain its recent improvement in profitability as store remodels, SG&A cost initiatives, and lower interest expense all help to offset pharmacy reimbursement pressures. We also see a number of strategic actions that Rite Aid could take that would drive profitability ahead of our current forecasts.”

Rite Aid closed on Wednesday at $5.10.

Latest Ratings for RAD

DateFirmActionFromTo
Apr 2016Deutsche BankDowngradesBuyHold
Mar 2016Credit SuisseAssumesOutperform
Jan 2016Evercore ISI GroupDowngradesBuyHold

View More Analyst Ratings for RAD
View the Latest Analyst Ratings

Posted-In: Deutsche Bank George HillAnalyst Color Initiation Analyst Ratings

 

Related Articles (RAD)

View Comments and Join the Discussion!