Deutsche Bank Reports ABC CEO Transition

Deutsche Bank issued a report maintaining Amerisource Bergen's ABC Hold Rating in response to ABC's announcement that their current CEO will retire in July.

The report states, "We view this as an orderly CEO transition, with Collis' experience with ABC positioning him well to step into the CEO position. We expect the company to continue to focus on its core distribution strategy, which will be aided by continued Specialty growth as well as the pending generic wave. We reiterate our Hold rating on ABC due to what we view as a fair risk/reward profile."

ABC was traded for $37.02 at closing yesterday. ABC has a $40 PT.