UPDATE: Credit Suisse Reiterates Outperform Rating, Raises PT on AmerisourceBergen Corp. Following F2Q Earnings Release

In a report published Friday, Credit Suisse analyst Glen Santangelo reiterated an Outperform rating on AmerisourceBergen Corp.

, and raised the price target from $57.00 to $61.00. In the report, Santangelo noted, “Following ABC's F2Q earnings release and conference call this morning, we have revisited our model. We have adjusted our F13, F14 and F15 estimates to $3.06 (previously did not exclude the loss from Canadian operations that has been moved to discontinued ops), $3.67 and $4.25 from $3.02, $3.64 and $4.19. Our updated TP of $61 (from $57) implies shares can trade at 16x our C14 estimate of $3.82. Our higher target multiple reflects the strong mid-teens growth outlook over the next several years.” AmerisourceBergen Corp. closed on Thursday at $53.41.