Zacks Investment Research upgraded shares of Express Scripts Holding Company (ESRX) from UNDERPERFORM to NEUTRAL on April 09, 2013, with a target price of $60.00.
We are reverting back to a Neutral recommendation on Express Scripts from Underperform. The company's fourth quarter 2012 adjusted earnings of $1.05 per share, while in line with the Zacks Consensus Estimate, increased 28.1% from the year-ago period. Higher revenues aided earnings in the fourth quarter of 2012. Revenues jumped 126.5% in the fourth quarter to $27.4 billion. The massive jump was attributable to the expanded product portfolio at Express Scripts due to the acquisition of Medco Health Solutions. We believe the acquisition is a definite positive for the company and should boost results further going forward.
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