UBS analyst Kevin Caliendo raised the firm’s price target on AmerisourceBergen (ABC) to $190 from $184 and keeps a Buy rating on the shares as part of a broader research note on pharma distributors. The analyst contends that Pharma distribution is a relative safe haven while noting "stable" Rx trends and positive channel checks around brand and generic drug inflation. AmerisourceBergen is "best positioned for outperformance" as the stock is is relatively de-risked with upside possible from easing currency headwinds and the timing of Walgreens Boots Alliance (WBA) repurchases, the firm adds.
Published first on TheFly
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