AmerisourceBergen Corporation (Holding Co) (ABC) Shares are Up 4.88%

AmerisourceBergen Corporation (Holding Co) (ABC) : Traders are bullish on AmerisourceBergen Corporation (Holding Co) (ABC) as it has outperformed the S&P 500 by a wide margin of 6.42% in the past 4 weeks. The bullishness in the stock continues even in the near-term as the stock has returned an impressive 4.44%, relative to the S&P 500. The stock has continued its bullish performance both in the near-term and the medium-term, as the stock is up 4.88% in the last 1 week, and is up 9.07% in the past 4 weeks. Buying continues as the stock moves higher, suggesting a strong appetite for the stock.

AmerisourceBergen Corporation (Holding Co) (NYSE:ABC): During Fridays trading session, Bulls were in full control of the stock right from the opening. The stock opened at $89.37 and $89.25 proved to be the low of the day. Continuous buying at higher levels pushed the stock towards an intraday high of $90.48. The buying momentum continued till the end and the stock did not give up its gains. It closed at $89.35, notching a gain of 0.42% for the day. The total traded volume was 1,527,972 . The stock had closed at $88.98 on the previous day.

The stock has recorded a 20-day Moving Average of 4.18% and the 50-Day Moving Average is 11.29%. AmerisourceBergen Corporation is up 17.3% in the last 3-month period. Year-to-Date the stock performance stands at -13.12%.

AmerisourceBergen Corporation (Holding Co) (ABC) : The highest level AmerisourceBergen Corporation (Holding Co) (ABC) is projected to reach is $105 for the short term and the lowest estimate is at $77. The consolidated price target from 11 rating analysts who initiate coverage on the stock is $90 and the possibility the share price can swing is $7.14.


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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