Markets & Finance

Goldman Lowers Opinion on Priority Healthcare


Goldman Sachs downgraded its investment rating on shares of Priority Healthcare (PHCC) to market outperform from trading buy.

Analyst Christopher McFadden says the shares surpassed his $34 price target. While he remains enthusiastic about Priority's business model and its fundamental outlook for 2002, he notes that the shares are now trading at 35.5 times the analysts' consensus 2002 outlook, and that the risk/reward opportunity warrants a more conservative recommendation. Fundamentally, McFadden continues to believe Peg-Rebetol and more general specialty pharmacy trends remain strong, and thus he remains confident in his recently increased $0.19 fourth-quarter EPS estimate.

Although he maintains confidence in the company's EPS prospects and growth opportunities, McFadden thinks the outlook is properly reflected in the share price.


We Almost Lost the Nasdaq
LIMITED-TIME OFFER SUBSCRIBE NOW

(enter your email)
(enter up to 5 email addresses, separated by commas)

Max 250 characters

Sponsored Financial Commentaries

Sponsored Links

Buy a link now!

 
blog comments powered by Disqus