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AmerisourceBergen Corp. (NYSE:ABC)‘s stock had its “neutral” rating reiterated by Zacks in a research report issued on Friday. They currently have a $75.00 price target on the stock. Zacks‘s target price would indicate a potential upside of 4.49% from the company’s current price.

Zacks’ analyst wrote, “AmerisourceBergen posted earnings of $1.06 per share in the second quarter of fiscal 2014 (ended Mar 31, 2014), beating the Zacks Consensus Estimate of $1.00. Revenues grew 38.6% to $28.5 billion in the second quarter of fiscal 2014. The reported revenues surpassed the Zacks Consensus Estimate of $28.2 billion. We are encouraged by the second quarter beat and subsequent increase in annual earnings guidance. AmerisourceBergen has entered into a strategic agreement with Walgreen and Alliance Boots GmbH in fiscal 2013. The agreement includes a ten-year pharmaceutical distribution contract with Walgreens and access to generic drugs and related pharmaceutical products through the Walgreens & Alliance Boots Development joint venture. We believe the distribution deal with Walgreens will positively impact results in fiscal 2014. Hence, we maintain a Neutral recommendation on the stock.”

Several other analysts have also recently commented on the stock. Analysts at Deutsche Bank reiterated a “hold” rating on shares of AmerisourceBergen Corp. in a research note on Friday, April 25th. They now have a $73.00 price target on the stock. Separately, analysts at Cowen and Company cut their price target on shares of AmerisourceBergen Corp. from $80.00 to $75.00 in a research note on Friday, April 25th. Finally, analysts at Raymond James cut their price target on shares of AmerisourceBergen Corp. from $79.00 to $74.00 in a research note on Friday, April 25th. Seven investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. The company presently has a consensus rating of “Buy” and an average target price of $72.40.

AmerisourceBergen Corp. (NYSE:ABC) traded up 0.45% during mid-day trading on Friday, hitting $71.78. 1,269,685 shares of the company’s stock traded hands. AmerisourceBergen Corp. has a 52 week low of $53.06 and a 52 week high of $73.81. The stock’s 50-day moving average is $68.68 and its 200-day moving average is $68.1. The company has a market cap of $16.211 billion and a P/E ratio of 38.15.

AmerisourceBergen Corp. (NYSE:ABC) last announced its earnings results on Thursday, April 24th. The company reported $1.06 EPS for the quarter, beating the Thomson Reuters consensus estimate of $1.00 by $0.06. The company had revenue of $28.50 million for the quarter, compared to the consensus estimate of $28.42 million. During the same quarter in the prior year, the company posted $0.87 earnings per share. The company’s quarterly revenue was up 38.6% on a year-over-year basis. Analysts expect that AmerisourceBergen Corp. will post $3.72 EPS for the current fiscal year.

AmerisourceBergen Corporation (NYSE:ABC) is a pharmaceutical services company serving the United States, Canada and select global markets.

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