FBR Capital Downgrades AmerisourceBergen (ABC) to Market Perform

FBR Capital downgraded AmerisourceBergen (NYSE: ABC) from Outperform to Market Perform with a price target of $90.00 (from $90.00).

Analyst Steven Halper comments, "We believe ABC is fundamentally well positioned with the potential to generate above-average growth in the coming years on the back of its WAG relationship and favorable underlying trends. However, as the shares approach our DCF-based target price of $90, we believe valuation now reflects the company's long-term growth prospects. On a relative valuation basis, we find the shares of McKesson and Cardinal Health, ABC's distribution peers, as more attractive at this juncture."

For an analyst ratings summary and ratings history on AmerisourceBergen click here. For more ratings news on AmerisourceBergen click here.

Shares of AmerisourceBergen closed at $88.90 yesterday.

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