UPDATE: Oppenheimer Provides a Company Update on Express Scripts

Earlier today Oppenheimer informed on a company update for Express Scripts ESRX providing a stock rate of Outperform and a price target for the next 12-18 months of $63 based on the FTC announcing it has voted to close its investigation into the proposed Express Scripts and Medco Health MHS merger, which cleared the way for the companies to complete the merger. Oppenheimer believes that "the lack of divestitures, particularly within specialty pharmacy, is a significant positive for the combined company. With the deal now closed, a certain level of uncertainty for the company's customers has been lifted. Express will still have to reassure clients that service levels will not be interrupted. In addition, we believe the likelihood of a settlement with Walgreens increases dramatically." The stock price at the close yesterday was $55.5.