AmerisourceBergen (ABC) Stock: $174 Target And Buy Rating

By Amit Chowdhry ● Jun 23, 2022
  • The shares of AmerisourceBergen Corp. (NYSE: ABC) have received a $174 price target from UBS. These are the details.

The shares of AmerisourceBergen Corp. (NYSE: ABC) have received a $174 price target from UBS. And UBS analyst Kevin Caliendo increased the price target on AmerisourceBergen from $144 while maintaining a “Buy” rating on the shares.

Caliendo adjusted the rating while citing the company’s Analyst Day. And Caliendo noted that while COVID dynamics muddy the FY23 outlook, AmerisourceBergen’s long-term guidance of 5%-8% EBIT growth and 8-12% EPS growth was in-line.

Going forward, Caliendo pointed out that beyond 2023, the company’s EBIT should be powered by specialty, and biosimilars with bHumira and bEylea launches can be seen as meaningful.

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