Goldman Removes AmerisourceBergen from “Conviction Buy” List (ABC)

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Pharmaceutical services provider AmerisourceBergen Corp. ( ABC ) on Monday saw its shares downgraded from Goldman Sachs' prestigious "Conviction Buy" List.

The firm maintained its "Buy" rating on the stock, however.

Goldman Sachs cited the following factors for the less bullish take:

  1. Shares are already reflecting generic upside in 2012,
  2. The stock lacks any clear near-term catalysts, and
  3. 2012 provides difficult comps in specialty markets.

AmerisourceBergen shares fell 88 cents, or -2.1%, in premarket trading Monday.

The Bottom Line
Shares of AmerisourceBergen ( ABC ) have a 1.10% dividend yield, based on last night's closing stock price of $41.99. The stock has technical support in the $38-$40 price area. The shares are trading near all-time highs and have little overhead resistance.

AmerisourceBergen Corp. ( ABC ) is not recommended at this time, holding a Dividend.com DARS™ Rating of 3.4 out of 5 stars.

Be sure to visit our complete recommended list of the Best Dividend Stocks , as well as a detailed explanation of our ratings system here .



The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of The NASDAQ OMX Group, Inc.

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This article appears in: Investing , Stocks

Referenced Stocks: ABC

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