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AmerisourceBergen stated at buy by Needham, target $99

April 4, 2017

Needham & Company initiates coverage on AmerisourceBergen (NYSE: ABC) with a Buy rating and a price target of $99.00.

Analyst Kevin Caliendo views AmerisourceBergen as the safest name to own in the distribution space, given its Walgreen partnership and strong free cash flow.

Caliendo sees the company growing its top line close to 6% annually through the end of the decade. RAD, which is not in their numbers, could provide addition growth for ABC if the merger with Walgreen’s goes through.


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