Bank of America Securities analyst Michael Cherny maintained a Buy rating on AmerisourceBergen (ABC – Research Report) yesterday and set a price target of $195.00. The company’s shares closed yesterday at $169.50.
According to TipRanks, Cherny is a 4-star analyst with an average return of 6.2% and a 53.05% success rate. Cherny covers the Healthcare sector, focusing on stocks such as AmerisourceBergen, Cardinal Health, and DENTSPLY SIRONA.
In addition to Bank of America Securities, AmerisourceBergen also received a Buy from Credit Suisse’s Jonathan Yong in a report issued on May 3. However, on May 2, Mizuho Securities maintained a Hold rating on AmerisourceBergen (NYSE: ABC).
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ABC market cap is currently $34.06B and has a P/E ratio of 21.63.
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AmerisourceBergen Corp. engages provision of pharmaceutical products and business solutions that improve access to care. It operates through the Pharmaceutical Distribution Services and Other segments. The Pharmaceutical Distribution Services segment distributes a comprehensive offering of brand-name, specialty brand-name & generic pharmaceuticals, over-the-counter healthcare products, home healthcare supplies & equipment, outsourced compounded sterile preparations, and related services to a wide variety of healthcare providers, including acute care hospitals and health systems, independent & chain retail pharmacies, mail order pharmacies, medical clinics, long-term care & alternate site pharmacies, and other customers. The Other segment focuses on global commercialization services and animal health and includes ABCS, World Courier, and MWI. The company was founded in 1947 and is headquartered in Chesterbrook, PA.
Read More on ABC:
- AmerisourceBergen price target raised to $182 from $174 at Deutsche Bank
- AmerisourceBergen price target raised to $187 from $174 at TD Cowen
- AmerisourceBergen price target raised to $174 from $170 at Mizuho
- AmerisourceBergen price target raised to $189 from $182 at Barclays
- AmerisourceBergen raises FY23 EPS view to $11.70-$11.90 from $11.50-$11.75
