Oppenheimer reaffirmed their outperform rating on shares of Express Scripts (NASDAQ: ESRX) in a research note released on Wednesday morning. They currently have a $62.00 price target on the stock, up from their previous price target of $60.00.
“After opening up ~7%, ESRX gave back much of its gains, despite what we considered a fairly benign call. We believe the market is focused on increased competition and ensuing pricing pressure. While we harbor the same concerns, we believe the competitive landscape is less threatening with UNH and CTRX than when MHS was pricing to fill its mail facilities. In terms of 2014, we expect CTRX to pick off a few clients but do not see a major shift in share. We also believe the company’s strong cash flow will support double digit EPS growth. We reiterate our Outperform rating and increase our PT to $62 from $60.,” Oppenheimer’s analyst commented.
ESRX has been the subject of a number of other recent research reports. Analysts at Lazard Capital Markets raised their EPS on shares of Express Scripts in a research note to investors on Wednesday. They now have a buy rating and a $65.00 price target on the stock. Separately, analysts at Macquarie downgraded shares of Express Scripts from an outperform rating to a neutral rating in a research note to investors on Wednesday. Finally, analysts at Mizuho raised their price target on shares of Express Scripts from $60.00 to $63.00 in a research note to investors on Wednesday. They now have a buy rating on the stock.
Eighteen investment analysts have rated the stock with a buy rating, one has given an overweight rating, and four have assigned a hold rating to the stock. The stock has an average rating of buy and an average price target of $63.64.
Express Scripts opened at 56.27 on Wednesday. Express Scripts has a 52-week low of $49.79 and a 52-week high of $66.06. The stock’s 50-day moving average is currently $54.85. The company has a market cap of $46.057 billion and a price-to-earnings ratio of 32.10.
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