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Fly News Breaks for February 29, 2016
PMC
Feb 29, 2016 | 09:00 EDT
After PharMerica provided lower than expected fiscal 2016 EPS guidance, KeyBanc says that the 27% plunge in the stock was overdone. The firm thinks that the stock's valuation is compelling at current levels, and it notes that the company is diversifying its business away from the "challenged" LTC pharmacy business. KeyBanc trimmed its price target on the name to $32 from $39 but keeps an Overweight rating on the stock.
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