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Fly News Breaks for March 21, 2018
ABC
Mar 21, 2018 | 09:02 EDT
Goldman Sachs analyst Robert Jones keeps his Buy rating and $111 price target on AmerisourceBergen after hosting investor meetings with the company's top management. Jones writes that the recent stock price pullback of 8% since the start of the week is attributed to concerns regarding the scope of the drug pricing proposals from the White House, noting that many of the changes will still require Congressional approval and will likely face implementation challenges. As such, the analyst believes that the stock price decline is "overdone". Jones adds that the management's views on AmerisourceBergen's core business are even more positive than expected, with "potential for improvement in generic pricing and sustainable strength in the specialty business".
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