Goldman Sachs Starts PharMerica (PMC) at Neutral

Goldman Sachs initiated coverage on PharMerica (NYSE: PMC) with a Neutral rating and a price target of $29.00.

Analyst Stephan Stewart said, "We are encouraged by PMC’s efforts in managing through the loss of its top two clients (15-20% of sales) with (1) organic underlying growth, (2) sizeable opex and purchasing savings, and (3) entrance into the attractive Specialty market. That said, post its recent (Sept 10) guidance update, we believe key catalysts for the stock have now passed and see limited room for further upside."

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

Shares of PharMerica closed at $25.96 yesterday.

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