William Blair Says Express Scripts Mgmt Accounting for Lull in Selling Removes 'Key' Overhang, Maintains Outperform

William Blair analyst John Kreger issued a note on Express Scripts Holding Company ESRX Friday morning suggesting the company might be expecting most clients to not make significant changes related to pharmacy benefit plans. Kreger cited recent comments from CEO Paz at a conference on Tuesday. Kreger attributed the lack of changes to worries regarding ACA implementation. ACA may gave Express Scripts a couple years to finish the Medco implementation before it returns to more normalized client attrition levels. Express Scripts management's opinion confirmed that 2014 is likely to experience a subdued selling season, noted William Blair. The analyst believes a "key risk" has been taken out of the stock given management's likely-correction expectation for a seasonal lull. William Blair maintains an Outperform rating on shares of Express Scripts.