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RAD

Rite Aid

07:32
09/06/17
09/06
07:32
09/06/17
07:32

Rite Aid president Ken Martindale to depart

Rite Aid Corporation has announced that president of Rite Aid Corporation and CEO of Rite Aid stores Ken Martindale, will leave Rite Aid, effective immediately, in order to assume a leadership position at another company. Rite Aid also announced it has promoted Bryan Everett, currently EVP in charge of store operations, to the newly created position of COO of Rite Aid stores. In this position, Everett will be responsible for the company's store operations, merchandising, distribution and logistics. Everett will report to Rite Aid's Chairman and CEO John Standley.

RAD Rite Aid

08/23/17
UBSW
08/23/17
NO CHANGE
Target $96
UBSW
Buy
Walgreens Boots Alliance should see upside from new Rite Aid deal, says UBS
UBS analyst Michael Cherny said his review of the new Walgreens Boots Alliance (WBA) deal with Rite Aid (RAD) would provide immediate accretion from synergy opportunities if the deal is approved. He believes it can provide meaningful upside to earnings as well as remove the lack of clarity on capital deployment-driven earnings contribution. Thus, he sees the shares as having a positive risk/reward skew. Cherny reiterated his Buy rating and lowered his price target to $96 from $97 on Walgreens shares.
07/20/17
07/20/17
DOWNGRADE

On The Fly: Top five analyst downgrades
Catch up on today's top five analyst downgrades with this list compiled by The Fly: 1. Pfizer (PFE) downgraded to Neutral from Outperform at Credit Suisse with analyst Vamil Divan saying he believes the stock's upside drivers are more limited over the next year. 2. Rite Aid (RAD) downgraded to Neutral from Buy at Mizuho. 3. Fairmount Santrol (FMSA) was downgraded to Sell from Neutral at Goldman Sachs and to Neutral from Outperform at Credit Suisse. 4. New Relic (NEWR) downgraded to Equal Weight from Overweight at Morgan Stanley with analyst Sanjit Singh saying shares are up 71% year-to-date and valuation captures solid fundamentals but sees fewer catalysts. 5. Smart Sand (SND) downgraded to Neutral from Outperform at Credit Suisse with analyst James Wicklund saying the regional sand volumes capacity is expanding much faster than had been expected. This drives lower pricing and demand for non-Texas mines, he adds. The analyst also lowered his price target on the shares to $8.50 from $20. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
07/20/17
LEER
07/20/17
NO CHANGE
Target $86
LEER
Outperform
Walgreens, Rite Aid deal still facing 'significant hurdle,' says Leerink
Leerink analyst David Larsen says that even though Walgreens Boots Alliance (WBA) and Rite Aid (RAD) restructured their transaction, he still believes it will be difficult to receive FTC approval. Although the asset purchase agreement may address local market concerns, the FTC will still focus on "national markets" and a declining Rite Aid might actually be another headwind, he argues. Larsen reiterates an Outperform rating and $86 price target on Walgreens' shares.
07/20/17
MZHO
07/20/17
DOWNGRADE
MZHO
Neutral
Rite Aid downgraded to Neutral from Buy at Mizuho
Mizuho analyst Ann Hynes downgraded Rite Aid to Neutral with a $2.95 price target.

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