UPDATE: Bank of America Raises Express Scripts' PT

According to a research report published earlier today, Bank of America has increased Express Scripts'

PT from $65 to $67. In the report, Bank of America commented, “ESRX will pursue divestitures post-closing that could generate over $1 billion in proceeds for deleveraging and share repurchases. ESRX has historically avoided manufacturer-facing franchises, and we'd expect a higher sale price for United BioSource Corporation, a post approval research firm focused on the drug and device industries that Medco purchased in 2010 for $730 million. ESRX may also sell diabetes supply and infusion therapy units. Our model assumes no divestitures, given uncertainty on timing and proceeds.” Bank of America maintains its Buy rating on Express Scripts, which closed yesterday at $53.89.