AmerisourceBergen Corporation (Holding Co) (ABC) : Analyst Rating Update

AmerisourceBergen Corporation (Holding Co) (ABC) : Zacks Investment Research ranks AmerisourceBergen Corporation (Holding Co) (ABC) as 4, which is a Sell recommendation. 1 research analysts consider that the stocks fundamentals point to a bright future, hence they rate the stock as a Strong Buy. 1 other analysts are mildly bullish on the stock and favor a Buy. A total of 10 analysts believe that the stock has a limited upside, hence they advise a Hold. The average broker rating of 12 research analysts is 2.75, which indicates as a Hold.

AmerisourceBergen Corporation (Holding Co) (ABC) : The highest short term price target forecast on AmerisourceBergen Corporation (Holding Co) (ABC) is $105 and the lowest target price is $77. A total of 11 equity analysts are currently covering the company. The average price of all the analysts is $85.18 with a standard deviation of $7.39.

AmerisourceBergen Corporation (Holding Co) (NYSE:ABC): During Wednesdays trading session, Bulls were in full control of the stock right from the opening. The stock opened at $79.94 and $79.60 proved to be the low of the day. Continuous buying at higher levels pushed the stock towards an intraday high of $81.55. The buying momentum continued till the end and the stock did not give up its gains. It closed at $81.19, notching a gain of 1.03% for the day. The total traded volume was 2,457,714 . The stock had closed at $80.36 on the previous day.

Also, Equity analysts at the Brokerage firm Bank of America reinstates its rating on AmerisourceBergen Corporation (Holding Co) (NYSE:ABC). The rating major has initiated the coverage with neutral rating on the shares. The rating by the firm was issued on June 7, 2016. The company shares have dropped -25.48% from its 1 Year high price. On Jul 22, 2015, the shares registered one year high at $115.41 and the one year low was seen on May 26, 2016. The 50-Day Moving Average price is $76.01 and the 200 Day Moving Average price is recorded at $85.62.

AmerisourceBergen Corporation is a pharmaceutical sourcing and distribution services company. The Company operates through two segments: Pharmaceutical Distribution and Other. The Company also provides data and other services to its manufacturing customers. The Company provides services to healthcare providers, and pharmaceutical and biotech manufacturers. The Company provides pharmacy services to certain specialty drug patients. Additionally, the Company offers healthcare providers and pharmaceutical manufacturers with services, including reimbursement and pharmaceutical consulting services, logistics services, inventory management, pharmacy automation and pharmacy management. The Company has a distribution facility network totaling approximately 30 distribution facilities in the United States.

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