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Fly News Breaks for April 25, 2017
ANTM, ESRX
Apr 25, 2017 | 07:27 EDT
Jefferies analyst Brian Tanquilut lowered his price target for Express Scripts (ESRX) shares to $67 saying he's disappointed by the company's pending Anthem (ANTM) contract loss. The analyst, however, keeps a Buy rating on the shares. The Anthem contract end was already partly baked into the stock, and the news eliminates an overhang that will enable Express Scripts to trade at a more appropriate valuation, Tanquilut tells investors in a post-earnings research note. The analyst adds that the contract's EBITDA margins were higher than expected.
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