Price Target Update on AmerisourceBergen Corporation (Holding Co) (NYSE:ABC)

AmerisourceBergen Corporation (Holding Co) (NYSE:ABC) : The highest level AmerisourceBergen Corporation (Holding Co) (NYSE:ABC) is projected to reach is $105 for the short term and the lowest estimate is at $77. The consolidated price target from 11 rating analysts who initiate coverage on the stock is $85.18 and the possibility the share price can swing is $7.39.

Other Equity analysts have also commented on the company shares. In the latest statement by the brokerage house, Bank of America reinstates its outlook on AmerisourceBergen Corporation (Holding Co) (NYSE:ABC). The current rating of the shares is Neutral, according to the research report released by the firm. The rating by the firm was issued on June 7, 2016.

AmerisourceBergen Corporation (Holding Co) (NYSE:ABC): stock turned positive on Thursday. Though the stock opened at $77.66, the bulls momentum made the stock top out at $77.77 level for the day. The stock recorded a low of $77.03 and closed the trading day at $77.55, in the green by 0.54%. The total traded volume for the day was 2,646,996. The stock had closed at $77.13 in the previous days trading.

The company shares have dropped -28.32% from its 1 Year high price. On Jul 22, 2015, the shares registered one year high at $115.41 and the one year low was seen on May 26, 2016. The 50-Day Moving Average price is $75.91 and the 200 Day Moving Average price is recorded at $87.26. On the companys insider trading activities,The officer (Executive Vice President) of Amerisourcebergen Corp, Danilewitz Dale sold 1,586 shares at $86.8 on March 1, 2016. The Insider selling transaction had a total value worth of $137,665. The Insider information was disclosed with the Securities and Exchange Commission in a Form 4 filing.

AmerisourceBergen Corporation is a pharmaceutical sourcing and distribution services company. The Company operates through two segments: Pharmaceutical Distribution and Other. The Company also provides data and other services to its manufacturing customers. The Company provides services to healthcare providers, and pharmaceutical and biotech manufacturers. The Company provides pharmacy services to certain specialty drug patients. Additionally, the Company offers healthcare providers and pharmaceutical manufacturers with services, including reimbursement and pharmaceutical consulting services, logistics services, inventory management, pharmacy automation and pharmacy management. The Company has a distribution facility network totaling approximately 30 distribution facilities in the United States.

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