Credit Suisse Increases Rite Aid Corp. Price Target to $5.00 (RAD)
Analysts at Credit Suisse boosted their price objective on shares of Rite Aid Corp. (NYSE:RAD) from $3.50 to $5.00 in a research report issued to clients and investors on Sunday, American Banking & Market News reports. The firm currently has an “outperform” rating on the stock. Credit Suisse’s target price points to a potential upside of 7.07% from the stock’s previous close.
Shares of Rite Aid Corp. (NYSE:RAD) opened at 4.67 on Friday. Rite Aid Corp. has a 52 week low of $0.95 and a 52 week high of $4.79. The stock’s 50-day moving average is $3. and its 200-day moving average is $2.77. The company has a market cap of $4.248 billion and a price-to-earnings ratio of 19.22.
Rite Aid Corp. (NYSE:RAD) last released its earnings data on Thursday, September 19th. The company reported $0.03 EPS for the quarter, beating the Thomson Reuters consensus estimate of ($0.04) by $0.07. The company had revenue of $6.30 billion for the quarter, compared to the consensus estimate of $6.27 billion. During the same quarter in the prior year, the company posted ($0.05) earnings per share. The company’s quarterly revenue was up .8% on a year-over-year basis. On average, analysts predict that Rite Aid Corp. will post $0.22 earnings per share for the current fiscal year.
RAD has been the subject of a number of other recent research reports. Analysts at Raymond James raised their price target on shares of Rite Aid Corp. (NYSE:RAD) from $3.50 to $4.00 in a research note to investors on Friday, September 6th. They now have an “outperform” rating on the stock. Analysts at Zacks reiterated a “neutral” rating on shares of Rite Aid Corp. (NYSE:RAD) in a research note to investors on Wednesday, July 24th. They now have a $3.00 price target on the stock.
Four analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. Rite Aid Corp. has a consensus rating of “Buy” and an average price target of $3.03.
Rite Aid Corporationis a retail drugstore chain in the United States. As of March 3, 2012, the Company operated drugstores in 31 states across the country and in the District of Columbia.
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