In a report published Friday, Morgan Stanley analyst Ricky R. Goldwasser reiterated an Overweight rating on Express Scripts ESRX, but removed the $70.00 price target.
In the report, Morgan Stanley noted, “The Department of Defense published a new rule in the Federal Register requiring members of the TRICARE for Life program to fill maintenance prescriptions via mail starting 2/14/14. The TRICARE for Life program covers members age 65 and older and their families. We estimate ~$0.05 potential tailwind from an increase in mail scripts. The Department of Defense estimates 35 million of retail prescriptions filled are for TRICARE for Life beneficiaries. We estimate this could translate to as many as ~20 million maintenance scripts moving to the mail channel on a full year basis or ~18 million in 2014.”
Express Scripts closed on Thursday at $66.71.
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