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Fly News Breaks for April 26, 2017
ANTM, ESRX
Apr 26, 2017 | 08:34 EDT
Leerink analyst David Larsen lowered his price target for Express Scripts (ESRX) to $60 from $75 as he is incrementally more cautious on the stock and the fundamental earnings power of the business following the announcement that Anthem (ANTM) will be "going in a different direction" in 2020. Additionally, the analyst believes that pricing is getting "very aggressive" for 2018, while the timing of break-open generics seems to be another challenge. Larsen reiterates a Market Perform rating on Express Scripts' shares.
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