In a report published Monday, Morgan Stanley analyst Ricky R. Goldwasser downgraded the rating on Catamaran Corp. CTRX from Overweight to Equal-Weight, and removed the $60.00 price target.
In the report, Morgan Stanley noted, “A maturing growth profile and premium to the group likely cap CTRX's multiple expansion opportunity. While we think mgmt will execute and grow EPS via M&A and CI, with topline CAGR moderating to 25% thru ‘15 vs. 75% from '08-‘13E and given evolving PBM dynamics, we view risk-reward as balanced.”
Catamaran Corp. closed on Friday at $49.52.
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