Morgan Stanley Sticks to Their Buy Rating for AmerisourceBergen (ABC)

In a report released today, Ricky Goldwasser from Morgan Stanley maintained a Buy rating on AmerisourceBergen (ABC), with a price target of $121.00. The company’s shares closed last Thursday at $102.32, close to its 52-week high of $106.45.

According to, Goldwasser is a 5-star analyst with an average return of 16.8% and a 66.7% success rate. Goldwasser covers the Healthcare sector, focusing on stocks such as Molina Healthcare, Quest Diagnostics, and 1Life Healthcare.

The word on The Street in general, suggests a Moderate Buy analyst consensus rating for AmerisourceBergen with a $109.67 average price target, which is a 5.7% upside from current levels. In a report released yesterday, Goldman Sachs also maintained a Buy rating on the stock with a $121.00 price target.

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The company has a one-year high of $106.45 and a one-year low of $72.06. Currently, AmerisourceBergen has an average volume of 1.17M.

Based on the recent corporate insider activity of 75 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of ABC in relation to earlier this year. Most recently, in June 2020, Lazarus Krikorian, the SVP & CAO of ABC sold 19,386 shares for a total of $1,975,046.

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AmerisourceBergen Corp. engages provision of pharmaceutical products and business solutions that improve access to care. It operates through the Pharmaceutical Distribution Services and Other segments. The Pharmaceutical Distribution Services segment distributes a comprehensive offering of brand-name, specialty brand-name & generic pharmaceuticals, over-the-counter healthcare products, home healthcare supplies & equipment, outsourced compounded sterile preparations, and related services to a wide variety of healthcare providers, including acute care hospitals and health systems, independent & chain retail pharmacies, mail order pharmacies, medical clinics, long-term care & alternate site pharmacies, and other customers. The Other segment focuses on global commercialization services and animal health and includes ABCS, World Courier, and MWI. The company was founded in 1947 and is headquartered in Chesterbrook, PA.

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