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Fly News Breaks for February 22, 2016
ANTM, ESRX
Feb 22, 2016 | 06:15 EDT
Deutsche Bank analyst George Hill downgraded Express Scripts (ESRX) to Sell saying risk to the company's largest client Anthem (ANTM) is not being fully discounted in the shares. Express Scripts is heading towards a "significant negative earnings revision" as it relates to Anthem, Hill tells investors in a research note after Anthem indicated it believes it overpays the company by $3B on an annual basis. The analyst sees 11% downside potential for shares of Express Scripts and cut his price target for the name to $61 from $93.
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