Cowen & Co. Reiterates Their Buy Rating on Rite Aid Corp


Cowen & Co. analyst Charles Rhyee reiterated a Buy rating on Rite Aid Corp (NYSE: RAD) yesterday and set a price target of $2.35. The company’s shares closed yesterday at $1.98.

According to TipRanks.com, Rhyee is a 4-star analyst with an average return of 12.5% and a 55.3% success rate. Rhyee covers the Services sector, focusing on stocks such as AmerisourceBergen Corporation, Cardinal Health, and R1 RCM Inc.

The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Rite Aid Corp with a $2.50 average price target.

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Based on Rite Aid Corp’s latest earnings release for the quarter ending May 31, the company reported a quarterly net profit of $214 million. In comparison, last year the company had a GAAP net loss of $75.35 million.

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Rite Aid Corp. engages in owning and managing retail drug stores. It operates through the Retail Pharmacy and Pharmacy Services segments. The Retail Pharmacy segment includes branded and generic prescription drugs, health and beauty aids, personal care products, and walk-in retail clinics.

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