HALISTER1: AmerisourceBergen Has ’Cleanest’ Story Among Peers: Baird

AmerisourceBergen Has ’Cleanest’ Story Among Peers: Baird

(Bloomberg) -- AmerisourceBergen indicated $83.05-$85 pre-market vs $82.74 after Baird analyst Eric Coldwell upgraded to outperform from neutral, PT $96 from $89, saying that the company "brings the cleanest story" among its peers over the near- and intermediate-term, and warrants a valuation premium.
  • Based on recent comments and interactions, along with lowered Street expectations, Baird is "comfortable" upgrading ahead of initial FY18 guidance
  • Says the cautious long-term sector stance still holds, but the Street is overemphasizing generic deflation impacts and is getting "overly negative" on drug distributors at the wrong time
  • NOTE: Sept. 28, PBMs, Small Pharmacies Threatened Most by Amazon: Bernstein
    • Sept. 25, AmerisourceBergen’s Generic Pricing Risks Remain, Jefferies Says
To contact the reporter on this story: Tatiana Darie in New York at tdarie1@bloomberg.net To contact the editors responsible for this story: Arie Shapira at ashapira3@bloomberg.net Steven Fromm

Alert: HALISTER1
Source: BFW (Bloomberg First Word)

Tickers
ABC US (AmerisourceBergen Corp)

People
Eric Coldwell (Robert W Baird & Co Inc)

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